The Truth About Your Debt to Income Ratio
On this weeks podcast we have a special guest! Tom Barclay of Prosperity Mortgage is IN STUDIO flexing his lending muscles and dropping all the knowledge on what lenders need and are looking at when determining what you pre-approval amount will be.
There are so many contributing factors to that bottom number. Your lender is not only assessing debt owed and the amount of money you are making that year. They want to see that you have the ability to pay back your loan. They want to know that you have stable employment that is going to continue and demonstrates longevity.
Did you know that there are certain changes and guidelines that immediately affect the amount of your pre-approval? What terms of the process are ever changing? How can your lender help you in the long term if you aren't able to be pre-approved right away?
Tune in to this weeks podcast; The Truth about Debt vs. Income, to find out!
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