Tag - lake forest home loans

What is Debt to Income Ratio?

In the mortgage industry there are a lot of big words and terminologies being thrown around and while those that are familiar with the industry understand completely, most of the general public is left scratching their heads. So what is this term "debt to income ratio"? When you apply for a mortgage your lender will analyze all of your debt and figure out how much income you have coming into the household versus how much debt is going out every month. Lenders will calculate the debt to income ratio to make sure that you have enough income to comfortably pay [...]

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