Team Mandi

When lenders review your mortgage application, your existing debt plays a bigger role than most people expect.

They look at your debt-to-income ratio, which compares your monthly debt payments to your monthly income. The lower that ratio, the more room there is in your budget for a mortgage payment. Talking through your debt picture with a mortgage professional before you apply can help you understand where you stand.

Follow Team Mandi for more easy-to-understand insights about the home loan journey and what happens behind the scenes.