The best choice of Mortgages lenders helps you to resolve many problems relates to the loan. There are many companies which are running in different parts of the world that can provide you the best services loan. Researches on different types of mortgages are available all over the world. There are many mortgage companies in Atlanta that can help you providing the solutions for your loans. We have seen in mortgage companies Atlanta providing long list of things they consider while approving your loans. That is the reason Atlanta mortgage rates are considered to be the best one in the market.
Now we will define some of the mortgage companies Atlanta factors that are considered for taking loans:
Your Income: When mortgage broker Atlanta see this factor, This includes the total gross income of the salary also includes your gross income could also include items such as average overtime pay, commissions, child support or alimony.
Debt to Income ratio: Your debt-to-income ratio shows how much of your gross income would go toward paying off all your debts, including your mortgage, car loans, student loans, credit card bills, child support, alimony or other monthly fees. Generally, your total monthly debt obligation shouldn’t be higher than 36% of your gross income. If you want to figure out your recommended monthly debt limit based on debt-to-income ratio, just multiply your annual salary by 0.36, then divide that by 12 (months). So, if you’re making $35,000 a year, your debt shouldn’t be any higher than $1,050 a month.
Employment history: Most lenders prefer to loan money to borrowers who have worked consistently and whose incomes have grown steadily over the past few years. You might need to provide your lender with additional information about your work history if you’re self-employed, work on commission or you’ve been at your present job for less than two years.
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