What is Your Debt To Income Ratio?
This ratio represents your amount of monthly payments (bills) compared to your average monthly income.
DTI Debt-to-income ratio
Lenders are typically interested in borrowers with a DTI ratio between 28 percent to 36 percent. These numbers are a general guideline, and not a hard and fast rule.
You'll have a much easier time qualifying for a loan if you fall between this ratio.
If you are presently overwhelmed with bills and barely having enough money after you get paid...
You don't need to buy a house just yet...
It's time to pay down some of those bills first and lower your DTI
Getting ready to buy your first home?
Find a good Realtor® first and you are on your way!
I invite you to watch our educational video series is a free comprehensive 15 video part series to prepare you for your first home purchase. The videos cover the home buying process, it is a compilation for over 20 years of experience that will give you an advantage to begin the process
Our counselors are ready and waiting to provide you with the care and direction you need to take if homeownership is in your plans.
We can also offer guidance on improving your credit.
To begin receiving counseling, please write us to info@ReallyNiceHomes.com or call 301-246-0001.