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?
