VETERAN OWNED AND LED
Debt-to-income ratio compares monthly debt payments with gross monthly income. Your lender uses it as one part of evaluating a mortgage application. Ask the lender how it treats your debts and income for the loan you are considering.
The former blanket 43% DTI requirement for General Qualified Mortgages was removed. Do not treat the old figure as a universal qualification limit. Read the CFPB’s General QM rule explanation.
Pike Title handles the title and settlement side of a financed purchase or refinance. For closing preparation, contact our Roanoke office; ask your lender about eligibility.