Next to your credit score, your debt to income ratio plays a major role in your ability to secure a loan. Each loan program has a specific debt ratio they require. This doesn’t mean every lender abides by that rule. Some enforce stricter rules to help prevent default. Knowing how lenders calculate your ratio can help you best prepare for your loan approval. Figure Out Your … [Read more...] about How to Calculate Debt-to-Income Ratio?
FHA loans provide borrowers with flexible financing. Borrowers find the max DTI forgiving enough to qualify. The other requirements of the program are flexible as well. Understanding the debt-to-income ratio requirements is one of the most important factors. Read our report below to see what you need to know. What is the Max DTI for FHA Loans? First, let’s start with the … [Read more...] about Understanding the Max DTI for FHA Loans