Another important entity in qualifying to purchase a home would be debt-to-income ratio. As Americans, we like purchasing nice things, etc. however, if the goal is to purchase a home, debt-to-income ratio is very important. The debt-to-income (DTI) ratio is the percentage of your gross monthly income that goes to paying your monthly debt and is used by lenders to determine your borrowing risk. Your mortgage payment shouldn't be more than 28% of your monthly pre-tax income and 36% of your total debt. A high debt-to-income ratio could still result in an approval; however, the loan may be lower than expected. If you’re in Florida and looking to purchase your forever home, I’m here for you. With a credit score of 640 or higher and 1 years of employment in the same field, we have programs available that you may qualify for that will provide down payment and/or closing cost assistance. Please contact me for further information, call/text 404-624-6995 or email [email protected]. #realestate #realtor #realestateagent #jacksonvillerealtors #jacksonville #jacksonvillefl #florida #southfloridarealestateagents #northeastflorida (at Jacksonville, Florida) https://www.instagram.com/p/Cp0NKcuLRnm/?igshid=NGJjMDIxMWI=