leftDebt to Income Ratio

Your debt to income ratio is simply a way of determining how much money is available for your new monthly mortgage payment after all your other recurring debt obligations are met. (car loan payments, credit card payments, student loans, child support, other mortgages, etc.)


Understanding the qualifying ratio

The first number in a qualifying ratio is the maximum percentage of your gross monthly income that will be used for your new mortgage (including loan principal and interest, private mortgage insurance, hazard insurance, property taxes and homeowner's association dues).

 

The second number is the maximum percentage of your gross monthly income that can be applied to housing expenses and recurring debt.  (car loan payments, credit card payments, student loans, child support, other mortgages, etc.)

 

What are my ratios?

We’d be happy to pre-qualify you to determine how large a mortgage loan you can afford.  We look forward to helping you buy your dream home.