What if your DTI is Too High?

[Ralph DiBugnara]

DTI is an important factor when determining how much house you'll be able to afford. There are situations, however, when a buyer's DTI will be too high. If you find yourself in this situation, the lender will most likely require other items in order to determine qualification before approving you for a mortgage. These can include

-Additional savings or reserves that you, or you co-borrower may have

-Proof of payments done on time for utilities and/or rent

-A letter explaining how the applicant would be able to make mortgage payments

For reference on how to calculate your DTI, check previous posts!