Qualifying for a mortgage: Debt to income Today everyone is hearing the words DTI- Debt to Income. What does this mean you ask? This is a part of how the mortgage industry qualifies someone to see if they can afford the mortgage they are applying for. How it works: You divide your Monthly Gross Income (Gross Income is before taxes are taken out) by your new housing payment plus all installment/revolving and legal (child support/alimony) debts. You then take that result and multiple by 100 to get the DTI Ratio. CALL ME for details and mortgage information - Jeremiah Phillips Phone:609-760-9234
http://www.njmortgagerep.com/
Date:
10-13-2007 | Click on link for more | |
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