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Introduction to Income to Debt Ratio for Richmond, VA Loan Pre-Approvals

For you to be pre-approved to buy a home in Richmond, VA or anywhere in the U.S., your debt-to-income (DTI) ratio must fall within a certain range. This is one of the many requirements home loan borrowers must meet. To get you started, you need to understand the meaning of debt-to-income ratio. Definition: Debt-To-Income Ratio The DTI ratio is simply a measure of a borrower’s monthly debt against their monthly income. The DTI ratio can also be defined as the percentage of a person’s gross monthly income that goes to pay debts.
Blake Bogese
April 17, 2017

How to Have a Smooth and Easy Loan Process

Loans, more so, mortgage loans are notorious for having bottlenecks. The process of getting a mortgage loan is hardly fast and smooth although most lenders market the loans as such. Things usually come up out of the blue and delay or throw the entire process out of control. Nevertheless, you can still take control of the entire mortgage loan application process. Here’s what you need to do to make sure you get your mortgage loan in the fastest and easiest way possible.
Blake Bogese
April 13, 2017
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