What are your thoughts about solving the high DTI issue?
What are your thoughts about solving the high DTI issue?
A high Debt-to-Income (DTI) ratio can make it difficult for homebuyers to qualify for a mortgage. To solve this issue, potential buyers should focus on reducing existing debt, such as credit card balances or student loans, before applying for a mortgage. Another approach is to increase income by pursuing higher-paying job opportunities or side income. Additionally, buyers with a high DTI might explore government-backed loans, such as FHA or VA loans, which have more flexible DTI requirements. It’s also a good idea to work with a financial advisor or mortgage broker to explore options for improving financial health.