It will be slightly hard to get house loans for people with high debt ratios.But understand that the interest rates would not be anything close to what you dream of.You cannot expect lenders to provide you the lowest interest rates when you are knee deep in debts.Remember that the debt to income ratio is a very important factor in the home loan approval process and this will be deciding whether a borrower deserves a lowest rate or an extremely high rate.
What can be done to get the mortgage loans with high debt ratios and bad credit?
=>There are not too many steps that you have to take to get the best available interest rates.There is just one thing that can be done at these situations – clear debts and increase the ratio.Does that sound too odd?But this is the reality.
=>The reality is that borrowers can get the best loan offers once they have paid little debts and improved their debt to income ratio,
=>If you are planning to start a new business then you have got the option of the no doc house loans which require no income verification.
=>It is not impossible to get the house loans for people with high debt ratios but you have some other choices if you are concerned about getting the lowest mortgage rates.
