Home Mortgages: What is a Debt-to-Income Ratio?
Learn what a debt-to-income ratio is and how lenders use it when reviewing your mortgage application. Mortgage lenders use a debt-to-income ratio (DTI) along with other criteria, including assets and credit score, to determine whether you’re a good risk for the loan you’re asking for. This ratio compares your overall monthly debt to your gross monthly income.
Your Guide to Mortgage Paperwork
Trackin gall the paperwork you need to process your loan can be a headache. Your agent will assist you with gathering the proper documents, but make sure you're educated about what you need in advance.