What is Mortgage Debt to Income Ratio?

Have you ever asked yourself, “What is mortgage debt to income ratio?”  If you have, you are not alone.  Many of the terms used in the mortgage industry can be very confusing and overwhelming to the home buyer.  It is easy to feel overwhelmed and uneducated when sitting down with your mortgage consultant.

In this episode of “Its Not Rocket Science,” Don will walk you through debt to income ratio.  He will answer the question, “How do you figure your debt to income ratio?”  And he will show you that it truly isn’t rocket science to figure it out on your own, so you are prepared and educated when it comes time to sit down with your mortgage consultant.

Grab a pen and a pad of paper and join Don as he answers the question, “What is mortgage debt to income ratio?”

Steps in Home Buying Process – Biggest Mistake to Avoid

One of the biggest mistakes a person can make when starting the process of buying a house, is to go out shopping for the home before they get pre-qualified for a great home loan! Most people get so caught up in the excitement of shopping for their new home that they don’t realize they are putting the cart before the horse. They may spend hours of their time and their Realtor’s time looking for that perfect home, only to find out that they do not qualify for a home loan due to some unforeseen obstacle or new guideline.

As you have heard from the media, the entire country is still going through the pains of a mortgage crisis. It is difficult enough for those that work in the business to keep up with all the changes, let alone customers and Realtors trying to know all the changes that occur almost daily!

So What’s The Big Deal? [Read more...]