Debt-to-income ratio Pre-approval Proof of funds 
Redfin
AUGUST 29, 2024
Debt-to-income ratio (DTI) Another major factor that a lender will consider when approving your mortgage loan is your debt-to-income ratio (DTI). DTI is calculated by dividing total monthly debts by gross monthly income. The number is then multiplied by 100 to get the final percentage.
The Close
DECEMBER 29, 2022
If your clients are concerned about getting approved for a loan, you can remind them that a co-borrower agrees to back the borrower in a mortgage loan. Debt-to-income ratio (DTI). Pre-approval. However, your clients need to know the difference between pre-approval and prequalification (see below).
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