How much debt a lender thinks borrower can handle before agreeing to give them a loan
Mortgage lenders prefer when less than 5% of your salary goes to paying off debt, such as credit cards, car or student loans. They need to know that you will be able to comfortably pay your monthly mortgage payments without other overwhelming bills.
Mortgage definitions and Real Estate Terms, Consolidating loans, refinancing mortgages and reverse mortgage process available to anyone. This consumer information site contains several tools and guides to aid in purchasing or refinancing a home or commercial property.
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Friday, April 14, 2006
