Debt to Income with Zach Abrams


Expenses like groceries, utilities, gas, and your taxes are not included. The next step is to take the total of monthly debt payments and divide it by your gross monthly income. This gives us the DTI. Depending on the loan program you will have differing guidelines on what DTI is required for your to qualify. It is extremely important once you start the pre-approval process, not to open any new lines of credit or take on any new debt until after the loan is closed. You don’t want to increase your DTI in the middle of buying a home because it might disqualify you for the home loan. Feel free to give us a call at VLG if you have any questions about DTI.

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