HOW TO CALCULATE A DEBT-TO-INCOME RATIO

HOW TO CALCULATE A DEBT-TO-INCOME RATIO | QUICK DTI CALCULATION

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2 жыл бұрын

WATCH to learn how to do a quick debt-to-income (DTI) calculation for mortgage qualification purposes.
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Kelly Zitlow is a Public Speaker, Sr. Mortgage Advisor & EVP of Sales & Marketing with Cornerstone Home Lending, a Division of Cornerstone Capital Bank, SSB. All information presented is for educational purposes only and is used to help you as the viewer in your home buying or selling process.
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#DTI #HowtocalculateDTI #mortgage

Пікірлер: 19

@JevonMusicGroup Жыл бұрын

Thanks for the info! FYI... $3000/$5000 is 60%... not 70%

@zoreenagraham6327 Жыл бұрын

Thank you, short sweet and straight to the point:)

@kellyzitlow Жыл бұрын

Glad it was helpful! Thank you for watching!

@jacebrooklyn Жыл бұрын

So the cost of a car doesn’t matter? Only the monthly payment on the car??

@kellyzitlow Жыл бұрын

Correct. Only the monthly payment is calculated into the debt to income ratio.

@ronlacombe3194 2 жыл бұрын

Nice simple explanation!

@kellyzitlow 2 жыл бұрын

Thank you Ron!

@damiennelson7379 5 ай бұрын

Great video, Short, Simple, Zero fluff, Thank you for making it simple to understand.

@kellyzitlow 5 ай бұрын

Thanks for watching and commenting!

@MohamedKhaled-tb1fk Жыл бұрын

Thank you very much.

@kellyzitlow Жыл бұрын

Thanks so much for watching!

@derekshih5354 Жыл бұрын

Thanks for the video! It was very helpful. Does co-signing for an apartment lease count towards “debt” in the DTI?

@kellyzitlow Жыл бұрын

Glad you found value in this! Co-signed debts are generally calculated into the debt-to-income (DTI) ratio. Some loan programs allow the exclusion of the obligation in the DTI if one can provide 12 months documentation showing the other party to the agreement has paid the lease payment.

@nrv2032 11 ай бұрын

@@kellyzitlow I am guarantor on my friends apartment lease..Will that be included in DTI calculation as well

@MortgageHowDoI 11 ай бұрын

@@nrv2032 Yes, the lease payment would need to be included in your debt to income ratio as you would be responsible for payment if your friend couldn’t make the payment

@MortgageHowDoI 11 ай бұрын

@@nrv2032 Some lending guidelines allow the exclusion of this type of debt obligation IF your friend can document (12 months bank statements or bank payment verification) they have paid the lease themselves for a minimum of 12 months.

@chrissstiantech Жыл бұрын

Do you have to include all your credit card minimum payments even if your cards have 0$ balance

@kellyzitlow Жыл бұрын

If there is a balance on the credit card, the associated minimum payment will be used in the debt-to-income ratio. In some cases, if one can document the credit card has been paid off and has a zero balance, the minimum payment no longer exists and can be removed from the debt-to-income ratio.

@chrissstiantech Жыл бұрын

@@kellyzitlow is debt to burden ratio the same as debt to income ratio?