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When A Homeowner Applies For A

When a homeowner applies for a mortgage, the lender bank evaluates the applicant’s repayment capability by dividing the total monthly obligation by his income. The result of the debt-to-income ratio qualifies/disqualifies the applicant. When a homeowner applies for a debt-consolidation loan, the payments for the debts to be paid off at closing are not included in the dti ratio.

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