Let’s say you’re buying a house and you have calculated your front ratio or the comparison of your proposed housing debt to your usable income. You know your lender allows a 43% total DTI ratio, and your front ratio is an enviable 36%. But your loan officer informs you that your total or “back” DTI… Continue Reading
Let’s say you’ve done your research, you want to consolidate debt, a personal loan isn’t for you, and you are comfortable using the equity in your home to pay off debt. You shop around for rates on a cash out refinance and you choose a lender. Half-way through the application process, the loan officer asks… Continue Reading
Do you have a lot of debt? Student loan, car loans, credit card debt? Are you considering taking out a debt consolidation loan where you get a new loan that pays off all the other debt? These types of loans are popular because you get to put various different loans into one payment, which makes… Continue Reading