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 [...]

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TRID – TILA-RESPA Integrated Disclosure

With earlier mortgage we might have seen and signed GFE - Good Faith Estimate and TIL - Truth in Lending documents. However you will no longer see these documents being disclosed on new mortgage loans that you might apply in future. On mortgage loan applications received on or after October 3 2015 TIL and GFE [...]