Credit Report

On every loan application lender do pull and review credit report for all borrowers. Credit report summarizes all credit activities timely updated by 3 credit agencies namely Equifax, Experian and Transunion. Each agency do rate individual based on his credit history and proposes a score known as credit score which is most important factor for [...]

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DTI – Debt to Income Ratio

Debt to Income Ratio of borrower is a most important factor to approve mortgage application by lender. DTI is nothing but ratio of total Monthly Debt Payment against total Gross Monthly Income. If for a given borrower committed monthly payment if $500 and that his monthly gross income is $1000 then the DTI ratio is [...]