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Show 29 is a Take 10 episode focused on teaching you one thing related to investing in real estate. This show focuses on teaching about the debt to income (DTI) ratio that banks use to determine what you are able to qualify for in terms of financing. Emily shares with you what the DTI ratio is, why it is important in your investing journey and how to calculate your own DTI to see if you are under the number banks use. Tune in for a quick "how-to" in investing in rental property.
Believe it or not, the DTI ratio is really used to not only protect the banks, but to protect you as well. It takes into consideration your gross income and monthly debt and calculates a ratio to make sure you are not taking on too much debt.
This ratio is used not matter what type of house you are buying, personal or investment. Anyone thinking about buying a house with financing should tune in to the show.
We'd love to hear about your concerns when it comes to obtaining financing. Leave us a comment below!
What You'll Learn...
What is the debt to income ratio
Why it is important and playing a role in obtaining financing
Who the DTI ratio is mean to protect
What the "big number" is that banks use to determine your ability to qualify
How to calculate your own DTI ratio to see what you can qualify for
Resources Mentioned In The Show...
RentalRookie (redesigned membership site sign up)
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