What is debt-to-income ratio?

What is debt-to-income ratio?

Your debt-to-income (DTI) ratio is the percentage of your income that goes toward paying your monthly debts. DTI can often be overlooked as many people assume that a good credit score and a high income are the only two factors needed to be taken into consideration...
What determines my mortgage interest rate?

What determines my mortgage interest rate?

In the quest for a home, one of the first questions a borrower asks is: What is the interest rate today?  The answer often times has to do more with the borrower then the lender. Surprised? Here’s how borrowers can impact their interest rates. Credit Score: Lenders...