Home
Give Your Credit Score the BOOST It Deserves!
Free Analysis|Login |800-666-6050
Call Now for a Free Consultation 800-666-6050

Home Ownership

Your Mortgage, Your Credit, Your DTI

Your debt to income ratio, also knows as “DTI,” helps lenders determine your mortgage eligibility. All of your monthly liabilities are divided by your gross monthly income resulting in a percentage. This percentage is your DTI. In order to qualify for a mortgage your DTI must not be over 40%-50%.

Low Mortgage Rates

Freddie Mac has issued information that explained mortgage rates have dropped to 4.69%. This rate is for a 30 year fixed home loan. The lowest rate for a mortgage was 4.75% until last week.  If you have the money and good credit, it is the perfect time to invest in a home.  However, people still need to be able to afford a good deal, even when it’s good!

Credit Scores & Homeownership

Your credit report will determine your eligibility for a mortgage and your interest rate. Most people apply for a mortgage in order to own a home.  A mortgage is a type of secured loan, worth the amount of what you are paying for your house, or slightly less determining your down payment.