A lot of what we do as mortgage brokers is work to qualify people to buy a home. As a result, we work with their debt-to-income ratio.
A long track record of a good debt-to-income ratio often indicates that a person’s finances are in shape to qualify for a home mortgage. And as a result, other qualifying factors are also in good shape, such as their credit score.
Learn more about your debt-to-income ratio, and why it is important when qualifying for a home mortgage: What is your debt-to-income ratio, and why is it important in qualifying for a mortgage?
Then experiment with an online debt-to-ratio calculator to make application to your finances: Debt-to-Income Ratio Calculator.
When you begin the process of looking for a home, you’ll want to be pre-qualified for a home mortgage. When you are pre-qualified, you have a realistic view of your budget, real estate agents take you more serious, and sellers can be more motivated to work with you.
Please contact us, and let us help you begin your journey of buying a home.