The debt-to-income ratio (DTI) is the ratio of your debts divided by your income, and is one of the main things that determines how large a mortgage you can qualify for. But do all of your debts count against you?

The answer is no, not all debts count against you when determining the size of the mortgage you can get. Here is a list of some of the things that do NOT count against you when a lender calculates your DTI:

  • car insurance
  • electricity
  • water
  • gas
  • sewer
  • phone - land line
  • phone - cell
  • Internet 
  • cablecollection accounts
  • health insurance 

In basic terms, every debt that appears on a credit report (except collection accounts) needs to be included in the DTI, and everything that does not appear on the credit report does not need to be included.

Call us with any questions.

 

Getting a loan approved is easy - if you know what to do. The Mortgage Experts know what to do!!!


Make sure you check out our web site: 

www.mtgsupportservices.com

And check out our blog to see all out tips:

http://TheMortgageExperts.blogspot.com

By the way, don't forget to refinance your current mortgage. Rates are very, very low right now. Don't miss out! Call us today to get the details for your particular situation.

 
Posted by Chris Thomas on 01/19/2012 10:18 AM   Comments (0)   Shopping for Mortgages in the ActiveRain Channel   mortgage tips, dti  
Generate short URL
This post has been included in Colorado Real Estate News
Post is included in group: Active Rain Newbies
Post is included in group: Colorado Real Estate
Post is included in group: Colorado Realty Bloggers
Post is included in group: Realtors®

0 Comments on Debt-to-Income Ratio (DTI) - What Counts Against You?
What does the graphic say?
Leave a response…

(optional)
Spam Prevention:
 
Chris_-_20 Rainmaker_large

Chris Thomas

Denver, CO

More about me…

The Mortgage Experts at America's Mortgage

Office Phone: (303) 345-3683

Email Me

Widely recognized as the leading source of accurate mortgage and credit information in the Metro-Denver area, and the people to call when you need a great mortgage.


Listings

Links

Archives

RSS 2.0 Feed for this blog

Find CO real estate agents and Denver real estate on ActiveRain.