Debt To Income Most Important

Dated: 02/06/2019

Views: 40

Nothing is more important than being able to afford a loan. What you pay every month toward your house and other obligations compared to what you earn is the most important factor. 

A loan officer can look past a less than perfect FICO score if you’re buying a house you can afford. Being able to afford a house means keeping your debt to income below 36 percent when adding all of your monthly debt obligations, including credit cards, car loans, student loans, and your housing expenses.

Be careful about what other credit you apply for before you apply for a mortgage. You shouldn’t be going any higher than approximately 35 percent.


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Dianne Kay

OVER 30 YEARS EXPERIENCE: Whether you are a first time buyer or an experienced investor it's important to have confidence in your real estate professional. My commitment as your local REALTOR® is ....

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