How Does A Mortgage Qualification Ratio Affect Me?

Home Loans

How Does A Mortgage Qualification Ratio Affect Me?
(presented by www.refinance-refinance.net - mortgage lenders)

By Ben Afzal

Loan Basics

Lenders look at a borrower and compare your total debt to your total income.

Lenders will do the math on this to figure out how whether you qualify for a loan, and what loan amount is appropriate for you.

Your Income

Lenders define your income as including your base salary, commissions, bonuses, rental income, interest income, and any other sources of income.

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Lenders usually like to factor in income that has been stable over time.

If you suddenly got a much higher paying job and are now looking for a new loan the lender may give this additional consideration. From the lender

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