Mortgage Investors Group effectively explains the debt-to-income ratio to every client in Tennessee.
[BRENTWOOD, 04/05/2018] — Since 2014, mortgage rules have stated that borrowers may only qualify for a mortgage if they have a 43 percent debt-to-income ratio, at most. Borrowers, however, may need a comprehensive explanation of what exactly debt-to-income ratio is.
Mortgage Investors Group, a direct lender in Tennessee, takes pride in personalized services that help clients get their dream home. As such, it thoroughly explains debt-to-income ratio to each customer during the process of finding an appropriate home financing solution.
Establishing Professional Relationships through Proper Communication
The Tennessee-based Mortgage Investors Group always aims to do right by clients. It values each one like family and gives back to the local communities that have helped the company reach its current level of success. For this reason, it establishes professional relationships based on trust and mutual respect by communicating effectively with each client.
The lending company’s approach to explaining debt-to-income ratio shows how it goes beyond offering basic mortgage services. It wants people to be aware of all existing and possible scenarios before making decisions.
Running through the Concept of Debt-to-Income Ratio
Debt-to-income ratio is one of the many tools that the lending industry uses to determine whether a borrower can afford mortgage payments. Understandably, borrowers, especially first-home buyers, may not be entirely familiar with how it works.
What Mortgage Investors Group does, therefore, is help clients understand front-end and back-end debt-to-income ratios. Furthermore, the lending company discusses the inclusions of the ratio as well as the qualifications that lenders look for.
About Mortgage Investors Group
Mortgage Investors Group is a lending company that provides single-family residential mortgages in Tennessee. It has been in the industry for more than 28 years, effectively serving more than 100,000 clients since it opened.
The lending company started out with a modest office in Knoxville. Now, the company has 24 branch locations across the state. Furthermore, it is the Tennessee Housing Development Agency’s top lender for 14 uninterrupted years — a testament to its reputation for personalized and unparalleled service.
To find out more about residential mortgages in Tennessee, please visit https://migonline.com.