Home Mortgage Loan Qualification
Debt Ratio
Debt ration is one of the most important numbers that a mortgage underwriter uses to qualify you for a mortgage loan. Here we recommend you to use 40% as a guideline. However there are many mortgage programs that may use ratios much higher than that depending on your loan to value ratio and credit rating.

Mortgage Loan Debt Ratio
Determine your debt to income ratio. Generally speaking, a debt ratio greater than or equal to 40% indicates you are not a good risk for lending money to.
Monthly income after taxes:
Spouse's monthly income after taxes:
Other monthly income:
Monthly rent/mortgage payment:
Monthly 2nd mortgage payment:
Total of all monthly car/vehicle payments:
Total of all monthly credit union loan payments:
All other monthly consumer loan payments:
Total of all monthly minimum charge card payments
(Visa, Mastercard, dept. store, etc.):
Other monthly payments:
Pending monthly loan payments:
Your total income:
Your total monthly payments:
Your debt ratio:

Find Out How Much Mortgage You Are Qualified For, Before Investing Your Time Looking for Properties.

Mortgage qualification is be far the most important step in the home buying process. For most of us, our home is the single biggest investment we have. That is where most of our equity is and that is where our future retirement resources are.
The type of mortgage that we obtain to purchase our home plays a very important role in the way equity builds up for our future.

Before spending hours driving around looking at properties, you should get together with a loan officer and go over your particulars and get verbally pre qualified for a mortgage. A competent mortgage loan officer should be able to pre qualify you within about 20 minutes or so. Follow that up by supplying all the documentation they require to get fully pre qualified for the type of home mortgage that you are interested in.

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