Calculating Your Debt To Income Ratio
July 8th, 2008 Subscribe To Our Feed
There are many factors that lenders consider when deciding whether or not to extend credit to someone applying for a loan. Credit score, down payment, and the purpose of the loan are all factors. There is one factor that is looked at probably more closely than any other though, and that is the debt to income ratio. This is the way that a lender determines how likely a consumer is to be able to make timely payments for the life of the loan. Understanding how the debt to income ratio is determined is the key to making sure that you’re in a position to obtain credit in the future.
Technorati Tags: applying for a loan, bank loan, car loan, debt load, debt ratio, debt to income ratio, lenders
Related Tags: applying for a loan, bank loan, car loan, debt load, debt ratio, lenders
Calculating Your Debt To Income Ratio
June 8th, 2008 Subscribe To Our Feed
There are many factors that lenders consider when deciding whether or not to extend credit to someone applying for a loan. Credit score, down payment, and the purpose of the loan are all factors. There is one factor that is looked at probably more closely than any other though, and that is the debt to income ratio. This is the way that a lender determines how likely a consumer is to be able to make timely payments for the life of the loan. Understanding how the debt to income ratio is determined is the key to making sure that you’re in a position to obtain credit in the future.
Technorati Tags: applying for a loan, bank loan, car loan, debt load, debt ratio, debt to income ratio, lenders
Related Tags: applying for a loan, bank loan, car loan, debt load, debt ratio, lenders
