Debt to Income Ratio | Mortgage Process Explained
When underwriting a mortgage, lenders try to understand whether or not you’ll be able to afford your new mortgage payment. They care more about your monthly debt payments than they do your total amount of debt. To understand your ability to repay your debt, lenders will check your debt-to-income ratio. Contents hide Debt-to-income ratio defined … Continue reading Debt to Income Ratio | Mortgage Process Explained
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