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How Mortgages Work: Qualifying for a Loan
 In order to qualify for a mortgage, most lenders require that you have a debt-to-income ratio of 28/36 (this can vary depending on the down payment and the type of loan you're getting, however). This means that no more than 28 percent of your total monthly income (from all sources and before taxes) can go toward housing, and no more than 36 percent of your monthly income can go toward your total monthly debt (this includes your mortgage payment). The debt they look at includes any longer term loans like car loans, student loans, credit cards, or any other loans that will take a while to pay off. Read full article Resources for Unsecured Personal Loans Guaranteed Loan Programs for personal use! No collateral required! Resources for Unsecured Credit Cards Credit Cards with no deposit or additional collateral required! ---------------- Now playing: Katharine McPhee - Over It via FoxyTunes  auto, loans, bad, credit, loans, car, loans, consolidate, debt, loans, home, loans, loans, mortage, payday, loans, personal, loans, student, loans, unsecured, loans, unsecured, personal, loans
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