Different Types of Debt and How They Affect Mortgage Approval

Monday Dec 11th, 2023

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Different Types of Debt and How They Affect Mortgage Approval

Debt helps determine the borrowers’ creditworthiness and commitment to their financial obligations. Understanding the different types of debt and how they affect mortgage approval helps potential homebuyers take the necessary steps to get higher chances of securing a mortgage. Moreover, recognizing the factors when evaluating a borrower’s debt-to-income ratio will help individuals meet the criteria before applying for a mortgage. 1. Credit Card High credit card debt... [read more]

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D'Amico Real Estate

D'Amico Real Estate

RE/MAX Realty Enterprises Inc.

1697 Lakeshore Rd W, Mississauga, ON, L5J 1J4

ad@damicorealestate.ca

(905) 855-2200

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Listing Data were last updated: 2024-05-18 00:00:00

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