How Much House Can I Afford??? What You Need To know About Your Debt To Income Ratio
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- เผยแพร่เมื่อ 22 ก.ย. 2019
- One of the questions I get asked all the time by people near and far is: How much should I be paying for my house? And this doesn't necessarily have to do with how expensive a home is, but has EVERYTHING to do with how much of your monthly budget should go towards housing.
This answer is a little bit different for everyone, and really depends on what YOU are comfortable with when it comes to payments. But I know it can be confusing, and if you've never really thought about it before, it can be downright intimidating!
This week's video is all about setting some reasonable guidelines as a jumping off point for you to consider when shopping for a home, or even considering refinancing. I break down what kinds of things lenders consider when structuring a home loan, and share my personal philosophy on what portion of a budget should go towards housing. I hope this info helps, and if you have any questions at all, please let me know!! We're always here to help you make smart money choices!! :)
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Lizy Hoeffer NMLS ID # 260183. AZ LO-0913409. how to qualify for a mortgage debt to income ratio dti
Amazing content! Thank you for covering this topic!
Thank you, very informative, I will be a first time home owner and filling myself with all the knowledge I can.
This background music is killing me
Great advice!
Thank you for tuning in!
Nice!
Good morning Lizy. If you are paying off your vehicles at closing, is this factored into your DTI when qualifying for a new home?
Your content is very helpful thank you! But it's hard for me to focus on what you're saying...is there any way you could lower the background music? Or just keep it in your intro/sign off?
Jenna S Thank you so much for the feedback!!! I passed this on to my editor Jessica so we could update our future videos!
I always listen to you when I drive to work and just wanted to ask you to lower the background music it is very distracting especially when I am trying to understand some concepts.
Thanks, l love to listen to her but my ears hurt so much due to the loud background music....very distracting and annoying.
Great information 😃 👍🏼
Glad it was helpful!
If I’m a co-signer on a car loan, will it be counted as part of my DTI if I can prove that the Primary Signer on the loan is the one who’s making the monthly payments?
Clear explanation
Thank you so much :)
Thanks this is the first video I watch of yours , what states do you do loans in ?
Thank you for tuning in! I am licensed in AZ but can recommend someone in a different state if you need a referral!
You should show examples to clarify the formulas. Only with words is a little complicated to understand. Thanks for your video
Great topic as always!!!! Could you please go a lil deeper on this topic? Like for example, how to calculate the Debt to income ratio properly, So I can have an idea when it comes to look for a house. I don’t wanna put my eyes on a house that i can’t afford 🙏🏾🙏🏾🙏🏾
When you say 70% are you meaning all household bills or all bills all together?
Debt free, 100% disabled veteran. Will I be able to qualify with just VA compensation?
Love her! got to meet at a mixer.
Counting on your brother, nope. Been there done that.
need some serious advice guys … I’m 47 , never married, no children ,545 credit score and lots of debt 💸, now I plan on trying to get a condo in about 3 years ( after I clear up most of the debt, save some money and get my credit up.
I’ll more than likely be at 46k in 3 years , my car paid off , score up and most of my debt clear ….. I’m shooting for a condo at 150k tops … but here’s the issue …. After 30 years I’ll be 80 years old 👴🏼 is it even wise to buy a condo now?… should I just get a nice apartment at this point?
One question I make 32,000 a year I am free Credit card debt I have a savings 50,000 can I get approved for a house
If you can cash out a home, should you?
depends on what you are doing with the cash and your future plans for the property
The extra cash would go towards investing to hedge against inflation. The extra rooms would go towards renting it out because there’s only one of me with three extra rooms. Lol
Great content! My only suggestion is to dim the music once you get rolling past the intro, otherwise nice stuff!
Michael Magdziarz thank you! We definitely turned it way down for future videos!
Your emergency fund should not be in a 401k that you can borrow against. My only criticism. Otherwise, good stuff.
Patrick S very true
I'm looking to have a one year emergency fund in a money market. Thats my comfort zone.
@@jbone79 That is mine too
The music gives me anxiety.
The music is very distracting. Please omit!!!
Music is so extra
So hot