Is Your Debt Too High To Buy A House?
Posted by Ron Wysocarski on Sunday, August 29, 2021 at 2:55 PM
By Ron Wysocarski / August 29, 2021
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Getting a mortgage to buy a home requires a good credit score, something that's earned by taking on some debt and maintaining a great repayment history.
But how much debt is TOO MUCH DEBT?
That depends on your income.
In applying for a home loan, lenders look at your Debt-To-Income ratio (DTI) to determine the amount of money you can spend.
If that ratio is off, it could be holding you back from your dreams of home ownership.
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