A qualifying ratio is a debt-to-income ratio used by lenders to assess a borrower's ability to repay a mortgage. One way a qualifying ratio is calculated is by dividing the borrower's total monthly debt payments by their gross monthly income. Or a percentage of a person's monthly income is calculated to specifically cover housing expenses.
Would you like to learn more about Real Estate? Have you ever wanted to become a Real Estate Agent? Click on this link for the schedule of our upcoming classes for Real Estate: tocrres.com