What is a Debt to Income Ratio

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Mortgage and Lending with Leader One Financial 164545

What is a Debt to Income Ratio

Today I wanted to talk with you about Debt to Income Ratios and your loan.

Get Started by being Pre-Approved for you Loan here!Debt to Income Ratio

One of my favorite authors is Dave Ramsey and he is always talking about having your financial house in order which is great advice and really makes sense when you're purchasing a home. 


Our goal is to first get you pre-approved which you can do here, and then get you through the mortgage process as easily and stress free as possible and then get you into your new home ASAP! Through all of that we want to make sure that while you're using you VA Benefit:  you own the house and that the house doesn't own you. One of the things we check when we are getting you approved for a loan is your Debt to Income Ratios; it's something that not a lot of homebuyers know about but it can make a huge difference in whether you get your VA Loan or not.

Your Debt to Income Ratios simply measures the amount of money you have going out in bills each month verses the amount of money you have coming in. Basically if your spending more money than what you're making - it's not good for you getting a loan and the bank doesn't set you up for failure and we really don't want to have anyone's house taken from them!

Here's a quick few tips to help you in having a great debt to income ratios; Be sure not to max out your credit cards, have any high car payments, or consumer debt.  It only takes us a few minutes to find out what your Debt to Income ratios are so than you can find the homes of your dreams.

Please contact us with any questions by calling (816) 268-4025 or email us at DarrenCopeland@KCLoantips.com
We're here to set you up for success and make you feel like a rockstar when buying your new home!

Check our Website for more information!

What is a Debt to Income Ratio

Posted by

Darren Copeland | Home Loans | Lee's Summit MODarren Copeland, Vice President LeaderOne Financial

4967-B NE Goodview Circle, Lees Summit, MO 64064

(816) 268-4025

KC Loan Tips & Midwest VA Loans

 

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what is a debt to income ratio

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