When you first thought about purchasing a home, you probably jumped online to do some basic research. You may have wondered about what information you need to share with a lender or mortgage broker to buy a home. Here's one piece of the puzzle: Lenders want to verify that you have a good debt-to-income (DTI) ratio. But what exactly is a DTI ratio? Your DTI … [Read more...] about How to Calculate Debt-to-Income Ratio (DTI) Yourself
front end ratio
What percentage of income should go to mortgage payments? It's a good question, particularly when you're ready to buy a home for the first time. Just like other important financial decisions, you want your monthly mortgage payment to fit seamlessly into your lifestyle. Morty can help you determine what you can comfortably afford to spend on your mortgage … [Read more...] about How Much of Your Income Should You Spend on Your Mortgage?