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
Measure of land representing one square mile. A section equals 640 acres. ...
Is a wholly owned government corporation administered by the Department of Housing and Urban Development. It does not by mortgages; it issues pass-through securities in which interest and ...
Timber wood situated on the exteriors of a loading deck to safeguard it from damage resulting when trucks unload and load. ...
Limited partnership in which limited partners rely on the general partner to choose specific properties after the funds are available. ...
A detailed list of property. The goods of a business, such as houses by a builder. ...
List of business property. ...
Descriptive of a property boundary that follows the course of a river or estuary. For example, a land description may say its boundary follows "the meander of the river" meaning the ...
Interest rate on an adjustable rate mortgage based on the total of the current value of an index and margin applicable to the mortgage. The rate is the basis for the computation of monthly ...
Listing Agreement A.K.A. Listing is basically a contract allowing a real estate agent or broker to list a home for sale and act as the home seller agent representing his/her interests ...
Have a question or comment?
We're here to help.