The Ratio That Can Make or Break Your Mortgage!

Did you know that a high debt-to-income (DTI) ratio is the #1 reason mortgage applications get rejected? 🤯

Your DTI ratio is the percentage of your gross monthly income that goes toward debt payments, including your mortgage.

Lenders use DTI to assess your ability to afford a home. So, how can you avoid rejection and qualify for better rates?

✅ Aim for a DTI ratio of 36% or lower to qualify for the best rates.

✅ Pay down credit cards, auto loans, student loans, and other debt.

✅ Increase your income to offset your debts and lower your ratio.

Ready to learn more? Check out our latest blog post to get more tips for taking out a mortgage.

Top 4 Factors To Consider When Choosing Your Mortgage

.

.

.

.

.

#realestate #realestateagent #homebuyertips #firsttimehomebuyer #mortgagetips #GarciasHomes #BuyingDreamHomeInMaryland #SellingHousesForTopDollarsInMaryland #MontgomeryCountyMDRealEstate