This is so the lender can see how stable your income has been. Your debt load is a projection of your current debt plus the future mortgage expense. Keep in mind that many loans are “stated loans” where you only have to state your income, not prove it. Debt And Income Ratios As Mortgage Factors Your “stated income” should mesh with your job title. Each [...] If your total monthly payments are $3,000 per month and your pretax income is $10,000 then your debt to income ratio is 30%.
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