It might feel strange that you can easily afford rent each month but still don’t qualify for a mortgage around the same amount. But it all comes down to how the rules are written.
When it comes to buying a home, lenders look at your debt-to-income ratio — while landlords only care that you earn a few times your rent. Totally different math.
Getting preapproved early helps you understand what’s possible and where you stand.
Reach out if you want to break it down and plan your next move.
#homebuying #mortgageeducation #realestate #preapproval #firsttimehomebuyer
