Most lenders will qualify a buyer for the maximum loan possible. Since ratios are becoming more credit-score driven, you may be able to get a loan with total debt more than 50 percent of income. Some homeowners can handle these high ratios and do well, while others go bankrupt. Everyone is different in the way they handle their cash flow, and only you can decide on your priorities.
From the lenders’ point of view, if you have a high credit score you’re more responsible. You should be able handle debt, so they’ll be a little more generous with a higher income to debt ratio.
From the lenders’ point of view, if you have a high credit score you’re more responsible. You should be able handle debt, so they’ll be a little more generous with a higher income to debt ratio.
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