Purchasing a new home is an exciting time in anyone's life. Still, before you take the leap into homeownership, it is important to have a clear idea of how much you can afford to pay for a home. After all, you don't want to pay so much for a home that you are unable to keep up with the payments. As such, it is essential for you to have a good idea of how much home you can afford before you start looking at available properties. One simple way to make this determination is to have a better understanding of the debt-to-income ratio and how it affects the loan process.
How Your Debt-to-Income Ratio Affects Your Loan
The first step toward determining how much how you can afford is to get a good idea of your debt-to-income ratio, which is the…
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