You found a home that fits your family, your payment estimate looks manageable, and you're finally ready to talk with a lender. Then the conversation shifts. The lender says your debt to income ratio, or DTI, is too high. That moment catches many first-time homebuyers off guard. People often focus on credit scores, down payments,…
Debt-to-income ratio, or DTI, is the percentage of your gross monthly income that goes toward your monthly debt payments. For many homebuyers, a DTI below 36% is the ideal target, while 43% is a common maximum for many mortgage types. If you're getting ready to buy a home, you've probably already looked at your credit…
Buying a home often starts the same way. You check listings late at night, save a few favorites, then wonder whether a lender will approve you. For many first-time buyers, that's the stressful part. It can feel like lenders use a secret formula that nobody explains clearly. They don't. Mortgage approval is a structured review….
A collection letter shows up in the mail. The bill looks medical. The date of service feels distant. You may have changed insurance since then, moved, or forgotten the account entirely. Now you're trying to buy a home, qualify for an auto loan, or keep your credit profile stable, and one old bill suddenly feels…