Debt-to-Income Ratio Mortgage Calculation

debt to income ratio 1
debt to income ratio 1

Lots of people dislike math, but there is one simple calculation that is very important when buying a home. This is called the debt-to-income ratio.

Having a good debt-to-income ratio can help a person get approved. Having a bad debt-to-income ratio can be the difference between approval and denial for a home loan.

The part of calculating the ratio is rather easy. Understanding what is included, and what is ignored in the calculations, takes a bit more work.

Take the time to understand how the debt-to-income ratio works and what you can do to bolster your chances of getting approved for a home mortgage.

debt to income ratio

Report

Mentor

Written by madisonmortgage

Real Estate | Mortgage | Social Media | Content Curator | Blogger | Cyclist | Disc Golfer www.madisonmortgageguys.com

Video MakerStory MakerYears Of MembershipVerified UserContent Author

What do you think?

Leave a Reply

June 2021 Roundup1 1

Real Estate Roundup June 2021

maxresdefault

download Akinkunmi Iberu – Antar Laniyan | Adeniyi Johnson | Olubese Ebenezer