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
(1) Revising the selling price of real property to reflect what it would be worth if typical financing was available. (2) How much real property would be sold for if all cash was involved. ...
Divider made of plasterboard or plaster used to partition rooms. A room is created by the walls surrounding it. ...
Width of a stair. ...
Personal property or real property that are passed on to heirs upon one's death. ...
Person's sole ownership of real property. ...
Upper layer of ground. ...
Principle stating that the joint tenants must have equal rights to possession of the whole property. ...
The ratio between a structure's total floor area and the total land area of the land upon which it is constructed. The floor area ratio definition is the ratio of the total amount of usable ...
Decision rendered by a court of law. ...
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