My_QC_Realtor

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ℹ️ The debt-to-income (DTI) ratio determines whether you’re eligible for your desired mortgage and how much house you can afford.

ℹ️ A “good” DTI can vary based on your circumstances, but in general you want to aim for around 36% or less but no higher than 43% if you can help it. Keep in mind that having a “good” DTI matters less than having a DTI that works with your personal finances and home buying goals

ℹ️ Lenders typically view DTI as:
• 36% DTI or lower: Excellent
• 43% DTI: Good
• 45%: Acceptable (based on type/lender)
• 50%: Absolute maximum (with compensating factors like a higher credit score or bigger down payment)

ℹ️ To calculate your DTI, start by adding up all your monthly debt payments (make sure to include estimated property taxes and homeowners insurance along with your estimated monthly mortgage payment and private mortgage insurance PMI if you are putting less than 20% down).
Next, divide the sun if your debts by your “unadjusted gross monthly income” (this is the amount you earn every month before taxes and other deductions are taken out AKA your “pre-tax income).
Then multiply that figure by 100.

Let’s talk more about what your DTI looks like for you and create a plan to adjust your DTI or get you a loan product that fits your goals and circumstances.

✨Victor Smith, NC Realtor/Broker

📍 Costello REI
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📞 704-388-6072
📧 [email protected]
👨🏾‍💻 victorsmith.costellorei.com

🔥HOT PROPERTY ALERT!!!🔥

Come see me tomorrow (Saturday, July 31, 2021 from 11am-2pm)

I’ll be hosting the open house for this AMAZING property in Indian Trail!

This gorgeous 5 bedroom home features a large owners suite downstairs with an adjoining office/nursery and a ton of space throughout for entertaining and living!

You don’t want to miss out on the beautiful backyard that wood backing and includes a newly built putting green and a built in grilling area and fire pit!

📍1201 Belmont Stakes Avenue, Indian Trail, NC 28079
MLS #: 3765942 | $485,000

Hosted by me!
Listed by

See you tomorrow!

✨Victor Smith, NC Realtor/Broker

📍Costello REI
💻
📞704-388-6072
👨🏾‍💻Victorsmith.costellorei.com

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