When determining whether you qualify for a home equity line of credit, lenders usually assume that the prime lending rate moves 2% higher than it is on the pricing date (or higher) and look at your ability, based on your cash flow, to pay back the loan with principal amortization over a...
If you don't make enough to qualify, you'll need to scale down your expectations for the amount you can borrow. Alternatively, you could pay off your other debts before applying for a home loan. Calculating your debt-to-income ratio for mortgage ...
The lower your debt-to-income ratio, the more likely you'll be to qualify for a loan at a favorablemortgage interest rate. This is especially if you have other positive factors, such as agood credit score. How to improve your debt-to...