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Mortgage Professor about debt to income: 
Qualifying For a Mortgage
December 12, 2000 Most potential borrowers are nervous about getting a mortgage loan because they share a widespread misperception: the misperception is that they have no bargaining power relative to lenders, and therefore must approach them ... more...

Housing Affordability: Why the Differences?
January 4, 1999 "My financial planner said I could afford to spend $250,000 for a house, my real estate broker said $280,000 and a calculator I found on the internet said $295,000. How come these large differences?" The affordability calculation is fairly complex ... more...

debt to income related definitions

Debt To Income Ratio
Debt To Income Ratio The ratio, expressed as a percentage, which results when a borrower's monthly payment obligation on long-term debts is divided by his or her gross monthly income. Equal Credit Act Debt ... more...

Equal Credit Oportunity Act
Equal Credit Oportunity Act (ECOA) Is a federal law that requires lenders and other creditors to make credit equally available without discrimination based on race, color, religion, national origin, age, sex, marital status or receipt of income from public assistance programs. ... more...

More about debt to income

How To Stretch Your Student Loan
If youre considering going to university, there is a strong chance that youre also contemplating taking out a student loan to fund your university expenses. Student loans dont have to equate to student debt and if you plan your finances, it is possible to get by without student loans and possibly ... more...

Getting a Home Improvement Loan: What Your Bank Needs
The popularity of stores like Home Depot and Lowe's show how many homeowners are jumping on the home improvement bandwagon. Maybe you're thinking of redoing part of your house as well. Perhaps you want the kitchen of your dreams or an extra bathroom. You know you'll have to take out a loan to ... more...

Debt Reduction Help - Consolidating Your Debt With a Loan
The average household has approximately $9,000 in consumer debt. With high interest rates, and monthly minimums barely covering finance charges, it's no wonder that millions of Americans are getting deeper and deeper into debt. Everyone is likely familiar with an estimated credit card payoff. If ... more...

Get the Facts Before You Borrow: Payday Loan 101
In the current economic climate, alternative means of obtaining money to make ends meet are becoming increasingly necessary. Some alternatives include borrowing money from friends/relatives; cash advances from employers; pawning personal effects and payday loans. Also known as a check/cash ... more...

No Credit Check Secured Loan: Best Solution For People With Bad Credit
Checking the credit history of any borrower is the most important step in any lending process. Lenders do this for obvious reasons but most of the borrowers hate undergoing credit checks, which disclose their credit history to strangers. This is especially true for those having poor credit history ... more...

Student Loan Debt Consolidation Students Cannot Afford to Lose Sleep over Debts
Studies take a back seat when debts begin to hold a prominent place in students finances. Guardians would find this strange, since most guardians feel that they send their wards more than enough money to meet the needs of their wards. The needs have a very narrow definition that includes not more ... more...

Student Loan Consolidation: The Good, Bad, and the Ugly
With tuition costs rising across the country, it has become increasingly necessary for college students to take on debt in an effort to get their degree. But student loan repayments are often difficult for students to make, especially considering that early on graduates incomes are typically quite ... more...

Benefits of a Personal Secured Loan
A Personal secured loan can offer many benefits, some of which are listed below:Personal secured loans are loans that are offered to individuals rather than businesses.Rates for a personal secured loan will be way lower than for other loan products so it makes good financial sense for many of us ... more...

Alternative Ways to Avoid Payday Loan
If you spend more than you earn on a regular basis, it is a bad practice. To overcome this situation, if you opt for a payday loan, it will be a risky solution. Payday loan companies often take the advantages of your need and lead you in debt trap.The most obvious disadvantage of payday loan is ... more...

Exploring Your Options for a Consolidation Loan UK
Whether you're wanting to consolidate your debt to avoid bankruptcy, reduce the number of monthly bills that you have, or combine loans to get a lower interest rate, you might want to consider applying for a consolidation loan UK.These loans are designed to combine several credit lines or debts ... more...


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