What is DTI or Debt-to-Income Ratio?
As you apply for a home loan or refinance, you will hear the term debt-to-income ratio, or DTI. Read to learn what this means and how it can be even more important than your credit score in determining whether or not you are approved for a home loan. Your debt-to-income ratio, or #DTI, is one of the main factors a lender will use when determining your ability to repay a new loan. Your DTI will impact whether or not your loan will be approved. What is DTI? DTI is the ratio or