I often times get asked about mortgages and how lenders determine the loan amount. Debt to income ratio is essentially a risk score and tells a lender how much of your income goes to servicing debt every month. Example:If you make $3,000 a month 💰 You have a $1,000 🛻 payment You also have $500 💳 paymentThat's 50% DTI. Usually anything over 43% is too risky. If you want to be able to afford a bigger/better home, you would either need to lower your debt or increase your income.Whereas cars and cards hold no appreciation, owning assets like land and stocks/bonds/cryptos etc. have the ability to appreciate over time. These are things we don't learn in school!👨🏽🏫 📚 #realestate #reels #investment #wealth #money #mindset #finance
A Wrinkly Introduction
Thank you for checking out my page, my goal is to be a wealth of knowledge for anyone who is in Real estate or thinking about Real Estate.
Real Estate is the #1 way to build wealth. Owning property allows you flexibility and a higher probability for financial freedom. Many people have told me how they appreciate my story posts and learn about wealth from those. While I am usually very quiet about my business and investments, I feel that providing insight can help YOU achieve better financial success. Thank you for your support, I am excited to step out of my comfort zone.
Side Note: The wrinkly shirt in this video has sentimental value for me!
