Main Line 844-469-3904

« The Emergency Fund | | General Mortgage Underwriting Guidelines »


Debt Management

Debt can be an important tool if managed well. It helps people obtain what they want, manage outflows of money, or it could be a drain on resources. The best use of debt is for large purchases that normally create equity, such as a mortgage when buying a home. The use of debt such as credit cards needs to be actively managed so it does not get out of control.

Many loan officers use the following rules of thumb in assessing whether a home mortgage will be offered to a borrower.

Debt Management Rules of Thumb:

Mortgage- Rules of Thumb











Feed Follow this conversation by subscribing to it here.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.


Post a comment