Everything you need to know about home loans in one place. Use our "frequently asked questions" section to learn everything about mortgages, refinancing, home equity lines of credit and more.
Your debt-to-credit Ratio (DTC), sometimes known as your credit utilization ratio, is a value that expresses the relation between the amount of credit you have used and your credit limit. DTC is often expressed as a percentage; the higher the percentage, the closer you are to reaching your credit limit. DTC is an important factor in many financial transactions, the most important of which is being one of the factors that helps determine your credit score.
Read MoreToday, more than 44 million Americans have student loan debt, with an average balance upwards of $37,000. If you’re one of them, you may wonder if that student loan debt can prevent you from getting a home loan. The answer: it depends. While you might not think that your student loan payment affects your ability to pay a potential mortgage payment, your lender might -- and that could spell trouble if you’re trying to buy a home.
Read MoreDTI, or debt-to-income ratio, is a measurement that banks and other lenders use to compare an individual’s debt payments to their overall income. They usually use this as a way to determine someone’s predicted ability to repay future debts. You can calculate DTI by dividing your total monthly debt (recurring expenses only), by your gross monthly income.
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