Mortgage Pre-Approval and the Debt-To-Income Ratio

Mortgage Reapproval and Debt to Income Ratios

The debt-to-income ratio (DTI) is one of the most important elements in obtaining a mortgage. It tells lenders how much income a borrower can afford to spend on monthly debt payments, including housing expenses, car loans, credit card bills, and more. If the DTI is too high, your mortgage application may be rejected or the lender may not offer you the best possible interest rate. Read More

Should you be considering a USDA Guaranteed Loan?

A USDA guaranteed loan is one with reasonable qualifying guidelines, even if you have bad credit. The federal government guarantees 90% of the mortgage amount for qualified applicants. To qualify for the loan, you will need to meet certain requirements and you will need to prove that you can repay it. This can be difficult for low income homebuyers. Read More

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