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Mortgage & Refinance Tips: Debt To Income Ratios

Published on: 23/08/2024

Debt to Income Ratios, often referred to as “DTI’s”, are a key calculation used in the refinance, debt consolidation, and purchase mortgage application process. A debt to income ratio is arrived at by dividing your monthly debt payments by your pre-tax income. Debt to income ratios are finally used to determine how much money you can borrow, and a thorough knowledge of DTIs can help you get the most value from your refinance, debt consolidation or purchase mortgage transactio...

Mortgage & Refinance Tips: Determining Your Income

Published on: 23/07/2024

When you apply for a refinance, debt consolidation or purchase mortgage, one of the most important factors in qualifying for the loan is your income. That may not seem like much of a surprise, but you may be surprised at all of the different ways your income can be calculated based on how well you can document it, and how much this can affect your loan process. Get a leg up on the loan officer and learn how to determine your income yourself.

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NEXA Mortgage, LLC NMLS# 1660690

Corp: 5559 S Sossaman Rd Bldg 1 Ste 101, Mesa, AZ 85212
NEXA Mortgage, LLC is an Equal Housing Lender

Location

5559 S Sossaman Rd Bldg #1 Ste #101 Mesa, AZ 85212

Developed by Hunter Lending Team

NMLS# 1660690 | 3100 W Ray Road #201 Office #209 Chandler, AZ 85226

NEXA Mortgage LLC is an Equal Housing Lender

Notice To Texas Loan Applicants: Consumers wishing to file a complaint against a mortgage banker, or a licensed mortgage banker residential mortgage loan originator, should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, TX 78705. Complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov.

A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed mortgage banker residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov