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6 things you need to check off before seeking a loan

June 30, 2017in LendingBy andrew

6 Things To Know Before Applying For A Loan

Applying for a loan or any type of credit can be stressful. We have put together a list of key things you should know about before applying for a loan, this information can help you qualify. 1. Credit You will want to have a credit score of 580 or above to qualify for a loan…

An explanation of the debt-to-income ratio by Magilla.

June 23, 2017in UncategorizedBy andrew

Debt-to-income ratio, explained

What is debt-to-income ratio? Debt-to-income ratio — referred to as DTI — is the percentage of your monthly gross income that goes towards paying monthly debts. To calculate, add up your monthly debts and divide by your gross monthly income. E.g. $3500. (debt) ÷ $10,000. (gross monthly income) = 35% DTI. How does my DTI…