High Debt-to-Income? Home Loan Letter of Explanation Guide
Understanding High Debt-to-Income Ratio and Home Loan Applications When applying for a home loan, lenders assess various factors to determine your creditworthiness. One crucial aspect is your debt-to-income (DTI) ratio, which is the percentage of your monthly gross income that goes towards paying debts. A high DTI ratio can make it challenging to qualify for … Read more