Augusta
VIP Contributor
To pull through buying a house with a mortgage or with lenders your debt to income ratio needs to be low. So DTI stands for Debt-to-income ratio is the percentage of your gross income that is used to payoff debt and it's interest monthly
So lenders will want to see your
DTI ratio to know if a borrower can afford to add the burden of a mortgage payment to debts already on ground, the rule is that debt-to-income ratio, should not exceed a borrower 43% of gross income. any borrower DTI exceeding this Percentage will finds it difficult to get a mortgage.
You can reduce DTI ratio to meet the requirements for a mortgage by boosting your earnings.
So lenders will want to see your
DTI ratio to know if a borrower can afford to add the burden of a mortgage payment to debts already on ground, the rule is that debt-to-income ratio, should not exceed a borrower 43% of gross income. any borrower DTI exceeding this Percentage will finds it difficult to get a mortgage.
You can reduce DTI ratio to meet the requirements for a mortgage by boosting your earnings.