How to Calculate Debt to Income Ratio for Mortgage Loans

Debt-to-Income Ratios

Debt to income ratio (DTI) is a financial tool that helps lenders assess your ability to make payments on a new loan. It helps them determine whether you’re a risky borrower who might not be able to make timely payments. The higher your DTI, the more likely you are to face a higher interest rate, or to be declined for a loan. When you know your DTI, you can make sure you’re prepared to handle any challenges that may arise. You’ll also have a good idea of whether it’s a good idea to take on new debt or to refinance an existing loan. Read More

How a Refinance Can Help Your Monthly Cash Flow

Refinance Mortgage Cash Flow

Chances are that your house payment makes up a big chunk of your monthly expenses. If you find yourself looking for a little extra cash flow each month, one of the solutions is to refinance your home. You could save anywhere between $100 and $500 per month, depending on your current interest rate, your new interest rate, and other factors. Read More

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