Category Archives: Mortgage Approval Process

Documents Required For A Mortgage Pre-Approval

Many lenders are quote quick 10 minute pre-qualifications over the phone or online.  A true mortgage pre-approval not a prequalification, is the only thing that holds any weight, a pre-approval means reviewing all of the necessary documents. With a constant stream of new lending guidelines, volatile mortgage rates and tightening regulation from the government, very few real estate agents will show…
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What’s My Debt-to-Income (DTI) Ratio?

Debt-to-Income (DTI) is one of the mortgage terms that you will hear about when looking to purchase a home or refinance your current mortgage. DTI is one of the most important mortgage approval factors.  It measures a borrower's gross monthly income compared to the monthly credit payments and other monthly liabilities.  It is calculated by dividing…
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