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Jason Hagen President MSI Lending of Lexington Phone: (859)253-5363 Fax: (859)252-0929 License: 6151 jhagen@msilending.com https://www.msilending.com/jasonhagen/get-a-quote |
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December 2019
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Understanding the Debt-to-Income Ratio You can max out that $1,200 a month for a mortgage and stay within the 30% rule, or you can push further and go as high as 43% on the ratio. The higher the debt-to-income ratio you go, the more money you have available to buy a home and still obtain a qualified mortgage. Your ability to get a higher percentage depends on a few factors and you should always discuss the pros and cons of going higher with a mortgage specialist. Source: Consumer Financial Protection Bureau If you or anyone you know has questions about home loan rates or products, please reach out. I'm always happy to help. Enjoy this month's issue of YOU Magazine. | ||||||||||||||||||||||||||||||
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