Gene I agree. That is a winning formula!!!
Only two things impact the Debt-To-Income (DTI) Ratio, dept and income. You either need more income or less debt. Lower interest rate = less debt, which in turn equals more income for a mortgage payment.
Kathleen Daniels, Prob...
San Jose, CA
Hello Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi - yes, eliminate debt! So many people took advantage of the lower rates by refinancing. A wise thing to do ... we may not see rates that low again in my lifetime.
Another great post, Gene. The current situation has been at least good for tose getting their financial affairs healthy and ready to make their next purchase. More grist for my mill.
724,442
Now is a great time to buy; not later. Thanks for sharing. I hope you have a great weekend!
Kathleen Daniels, Prob...
San Jose, CA