The lender considers your debt-to-income ratio, which is a comparison of your gross (pre-tax) income to housing and non-housing expenses. Non-housing expenses include such long-term debts as car or student loan payments, alimony, or child support. The lender also considers cash available for down payment and closing costs, credit history, etc. when determining your maximum loan amount.

author

Author

Scott Nachatilo

Hi, I’m Scott Nachatilo and I own a property management company in Oklahoma (OKC Home Realty Services, LLC). We help landlords and real estate investors to manage their property in OKC