Debt-to-Income is known in the industry as DTI. The percentage of a consumer’s monthly gross income that goes toward paying debts. Each loan program has their own restrictions for DTI and what is acceptable. Contact a Bailey & Wood Mortgage Consultant for more information.
What is underwriting and what part does it play in the mortgage process? The underwriter plays a key role in reviewing the clients file for mortgage approval. They look at credit history, income, appraisal on the property and overall risk and benefits of the loan itself. They then making a determination based on these risks […]