Debt-to-Income Ratios and Car Payments - Santa Clarita Home Buying Tips

When determining your ability to qualify for a mortgage, a lender looks at what is called your "debt-to-income" ratio. A debt-to-income ratio is the percentage of your gross monthly income (before taxes) that you spend on debt. This will include your monthly housing costs, including principal, interest, taxes, insurance, and homeowner’s association fees, if any. It will also include your monthly consumer debt, including credit cards, student loans, installment debt, and….

…car payments.

Next step  »

How a New Car Payment Reduces Your Purchase Price

 
Do you have additional questions?
Please complete the following form for a prompt response:
Debt Ratios Required
Contact Information
First Name
Last Name
Email Address
Phone Number
Questions
Additional Comments?
 Enter the verification code in the field below and click the submit button.

Get a new code