Comments on: What is Debt-To-Income Ratio (DTI Ratio)? http://www.moolanomy.com/427/what-is-debt-to-income-ratio-dti/ Personal Finance. Investing. Wealth Building. Sun, 21 Mar 2010 15:15:02 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Pinyo http://www.moolanomy.com/427/what-is-debt-to-income-ratio-dti/comment-page-1/#comment-21354 Pinyo Wed, 20 May 2009 14:41:50 +0000 http://www.moolanomy.com/427/what-is-debt-to-income-ratio-dti/#comment-21354 @Pamela - Thank you. Have you consider other lenders? Do you know of any bank that works specifically with self-employed and freelancer? Have you checked out this site? http://www.freelancersunion.org/ @Pamela – Thank you. Have you consider other lenders? Do you know of any bank that works specifically with self-employed and freelancer?

Have you checked out this site? http://www.freelancersunion.org/

]]> By: Pamela Hanes http://www.moolanomy.com/427/what-is-debt-to-income-ratio-dti/comment-page-1/#comment-21353 Pamela Hanes Wed, 20 May 2009 14:28:22 +0000 http://www.moolanomy.com/427/what-is-debt-to-income-ratio-dti/#comment-21353 There is a slight chance we will have the funds needed but my husband really doesn't want to go that route. I, on the other hand,think that 4.75% is a great rate and don't want to risk losing that offer. When we add up closing costs and the pay down amount it is closer to $30,000. We even adjusted our write offs this year and are paying twice as much per quarter as we were last year but it probably won't make a difference. Until we know for sure we can access the extra funds needed, I may shop around a bit more. Thank You for your input. This site was very helpful. There is a slight chance we will have the funds needed but my husband really doesn’t want to go that route. I, on the other hand,think that 4.75% is a great rate and don’t want to risk losing that offer. When we add up closing costs and the pay down amount it is closer to $30,000. We even adjusted our write offs this year and are paying twice as much per quarter as we were last year but it probably won’t make a difference. Until we know for sure we can access the extra funds needed, I may shop around a bit more. Thank You for your input. This site was very helpful.

]]> By: Pinyo http://www.moolanomy.com/427/what-is-debt-to-income-ratio-dti/comment-page-1/#comment-21351 Pinyo Wed, 20 May 2009 14:17:22 +0000 http://www.moolanomy.com/427/what-is-debt-to-income-ratio-dti/#comment-21351 @Pamela - I hate to say it, but you win some and you lose some. I am not saying that you're wrong to write off as much as possible to reduce your taxes. I would do the same in your situation. But when you write off a lot to lower your income, this is one of the consequences. It sounds like you're in ARM now and want to refinance to a fixed rate at 4.75%. Could you come up with the $20,000? It seems like that's your best bet since prepayment won't help you when the teaser rate expires. @Pamela – I hate to say it, but you win some and you lose some. I am not saying that you’re wrong to write off as much as possible to reduce your taxes. I would do the same in your situation. But when you write off a lot to lower your income, this is one of the consequences.

It sounds like you’re in ARM now and want to refinance to a fixed rate at 4.75%. Could you come up with the $20,000? It seems like that’s your best bet since prepayment won’t help you when the teaser rate expires.

]]> By: Pamela Hanes http://www.moolanomy.com/427/what-is-debt-to-income-ratio-dti/comment-page-1/#comment-21315 Pamela Hanes Mon, 18 May 2009 17:41:39 +0000 http://www.moolanomy.com/427/what-is-debt-to-income-ratio-dti/#comment-21315 I am completely frustrated! Wanting to take advantage of the low rates we applied for a fixed mortgage. (In an ARM) We have great credit, little to no debt, still have quite a bit of equity in our home and two incomes. However, we are both self -employed and have a great CPA who writes off as much as possible for taxes. So when it comes to our adjusted income our DTI shows us at 52%. Why can't they consider that self-employed people write off as much as possible to avoid paying too much in taxes! It is obvious that we can pay the mortgage, in fact at the proposed rate of 4.75% we would only be paying $120 more than we pay now which we have been paying on time for 4 years! This particular lender wants us to "pay down" our existing loan by at least $20,000 so our DTI will be 50%. Again, so frustrating! Oh and for some reason we don't qualify for the Govt.'s Fannie Mae project! I am completely frustrated! Wanting to take advantage of the low rates we applied for a fixed mortgage. (In an ARM) We have great credit, little to no debt, still have quite a bit of equity in our home and two incomes. However, we are both self -employed and have a great CPA who writes off as much as possible for taxes. So when it comes to our adjusted income our DTI shows us at 52%. Why can’t they consider that self-employed people write off as much as possible to avoid paying too much in taxes! It is obvious that we can pay the mortgage, in fact at the proposed rate of 4.75% we would only be paying $120 more than we pay now which we have been paying on time for 4 years! This particular lender wants us to “pay down” our existing loan by at least $20,000 so our DTI will be 50%. Again, so frustrating! Oh and for some reason we don’t qualify for the Govt.’s Fannie Mae project!

]]> By: Person to Person Lending : Cash Money Life http://www.moolanomy.com/427/what-is-debt-to-income-ratio-dti/comment-page-1/#comment-19302 Person to Person Lending : Cash Money Life Sun, 28 Dec 2008 17:53:24 +0000 http://www.moolanomy.com/427/what-is-debt-to-income-ratio-dti/#comment-19302 [...] to fund. Loans are listed with the borrower’s data - the amount requested, Credit rating, debt-to-income ratio (DTI), homeownership status, employment, occupation, income, and information about their credit including [...] [...] to fund. Loans are listed with the borrower’s data – the amount requested, Credit rating, debt-to-income ratio (DTI), homeownership status, employment, occupation, income, and information about their credit including [...]

]]> By: Excessive Debt Can Ruin Your Military Career | Military Finance Network http://www.moolanomy.com/427/what-is-debt-to-income-ratio-dti/comment-page-1/#comment-10137 Excessive Debt Can Ruin Your Military Career | Military Finance Network Tue, 06 May 2008 14:08:49 +0000 http://www.moolanomy.com/427/what-is-debt-to-income-ratio-dti/#comment-10137 [...] pulled any time you apply for a security clearance or clearance renewal. Did you know that if your debt to income ratio is too high your security clearance application can be [...] [...] pulled any time you apply for a security clearance or clearance renewal. Did you know that if your debt to income ratio is too high your security clearance application can be [...]

]]> By: Make Friends, Earn Money http://www.moolanomy.com/427/what-is-debt-to-income-ratio-dti/comment-page-1/#comment-8053 Make Friends, Earn Money Sat, 05 Apr 2008 13:52:43 +0000 http://www.moolanomy.com/427/what-is-debt-to-income-ratio-dti/#comment-8053 Pinyo, you've just summarised in a nutshell what a financial adviser this week tried to explain to me in 40 minutes! Thanks for the post Pinyo, you’ve just summarised in a nutshell what a financial adviser this week tried to explain to me in 40 minutes! Thanks for the post

]]> By: Great advice for buying a home! | rocket finance http://www.moolanomy.com/427/what-is-debt-to-income-ratio-dti/comment-page-1/#comment-6207 Great advice for buying a home! | rocket finance Fri, 07 Mar 2008 14:48:50 +0000 http://www.moolanomy.com/427/what-is-debt-to-income-ratio-dti/#comment-6207 [...] Single Guy Money presents the real cost of homeownership. This is important! Pinyo from Moolanomy explains debt to income ratio. I bought my first house without ever having even heard this concept. I did not know what our ratio [...] [...] Single Guy Money presents the real cost of homeownership. This is important! Pinyo from Moolanomy explains debt to income ratio. I bought my first house without ever having even heard this concept. I did not know what our ratio [...]

]]> By: king tom http://www.moolanomy.com/427/what-is-debt-to-income-ratio-dti/comment-page-1/#comment-5897 king tom Thu, 21 Feb 2008 18:19:44 +0000 http://www.moolanomy.com/427/what-is-debt-to-income-ratio-dti/#comment-5897 Spend less, save more, enjoy life. Everything else is secondary. If you've got yourself into debt, stop spending. That should always be the primary advice. Spend less, save more, enjoy life. Everything else is secondary. If you’ve got yourself into debt, stop spending. That should always be the primary advice.

]]> By: Foreclosure Freeze - Project Lifeline http://www.moolanomy.com/427/what-is-debt-to-income-ratio-dti/comment-page-1/#comment-5755 Foreclosure Freeze - Project Lifeline Wed, 13 Feb 2008 12:37:36 +0000 http://www.moolanomy.com/427/what-is-debt-to-income-ratio-dti/#comment-5755 [...] point, the lenders will request up to date information about the borrower’s income levels, debt to income ratio (DTI), and other financial data. Then the lenders may offer the homeowners financial counseling or to [...] [...] point, the lenders will request up to date information about the borrower’s income levels, debt to income ratio (DTI), and other financial data. Then the lenders may offer the homeowners financial counseling or to [...]

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