What Debt to Income Ratio will Get you Closer to youe New Home?

[Ralph DiBugnara]

Debt to Income (DTI) ratio is one of the key factors determining lender approval. This number requires special attention from homebuyers. However, not all understand DTI or what it even means when getting a home. A good DTI depends on the type of loan you are applying for (convencional, VA, FHA, etc.). So it is important to understand what lenders are looking for and create a financial strategy tailored to your situation.

Tip: a good DTI is generally 36% or less and not more than 43%!