The Financial Services Commission announced that home-backed mortgage loans issued by banks will be subject to the stressed debt service ratio (DSR) rule from Monday, February 26. The stressed DSR system imposes a certain level of additional stress rate when calculating the borrower’s DSR as it takes into account the possibility of heavier repayment burdens with increases in future interest rates. From February 26 to June 30, 2024, an additional stress rate of 0.38 percent will be applied to m...
Your debt-to-income ratio shows your lender whether your new mortgage payment will fit within your budget. Here’s the DTI you’ll need to get a home loan.
When it comes to getting approved, your debt-to-income ratio for a mortgage matters. We explain why, and how to calculate your number.
Mortgage lenders will typically look at your debt-to-income ratio to understand your financial position and ensure you can handle more debt.
One way your mortgage lender will assess your financial capacity to afford your payments is to calculate your debt-to-income ratio. Learn how DTI works.
Clearing up credit card debt can lower your debt-to-income ratio and raise your credit score — which makes you more attractive to mortgage lenders.
Understand the concept of debt-to-income ratio with this guide. Find out how this ratio affects your financial health & lending opportunities.
Your debt-to-income ratio could make or break your chances of getting a mortgage. Understand how it's calculated and why DTI matters for loan approval.
Applying for a mortgage or another loan soon? Learn more about the debt-to-income ratio, how it’s calculated, and how lenders use it to evaluate potential borrowers.
When making a mortgage application, understanding your debt-to-income ratio (DTI) is crucial. This ratio is a key metric used by lenders to evaluate your