Writings on mortgage calculator
For a good credit score, you should be paying 40% or less of your total monthly income toward your debt. You current mortgage, all your credit cards, your auto payment, and your student loans all count toward your current debt. When calculating your debt to income ratio, lenders will add in the amount of the loan they are considering offering you, so not only your current debt, but also your debt after taking out the mortgage, should be under 40% of your monthly income. * Raise the percentage of credit you have available versus the percentage of credit you have used. Lenders like to see that you have plenty of credit available and you have used relatively little of it.