In order to qualify for a mortgage you will generally what to keep your debt-to-income ratio below the following levels.
- 36% – 49%: A DTI in this range suggests that while a significant portion of your income is committed to debt, you may still be able to handle a mortgage payment. You might qualify for a loan, but the terms may be less favorable compared to someone with a lower DTI.
- 35% or less: This is considered a low DTI, and borrowers in this range are typically offered the best loan terms, including lower interest rates and smaller down payment requirements.
