What Is An Overall Debt Ratio?
Definition of "What is an overall debt ratio?"
An overall debt ratio is the percentage of your overall debt (housing payments plus any other long-term debt) to your monthly gross income. Lenders use this ratio-sometimes called the back-end ratio-to see whether you qualify for a loan. Common overall debt ratios are 33 or 36 percent.
Popular Real Estate Questions
Popular Real Estate Glossary Terms
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An additional fee imposed by lenders on home mortgages payable in cash at the time of the closing. ...
Wood panels on a wall. ...
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