How to calculate debt to income ratio

Qualified mortgages require debt-to-income ratios of no more than 43 percent.

The debt-to-income ratio is a method for a lender to measure a borrower’s ability to manage the payments made every month in order to repay the money borrowed. To calculate a debt-to-income ratio, a lender will add up all of a borrower’s monthly debt payments and divide that number by the borrower’s gross monthly income. Gross monthly income is the amount of money a borrower earns before taxes and other deductions are removed.

If you find that your debt to income ratio is too high, you could:

  • Use a larger downpayment to reduce the loan amount.
  • look for a lower priced home
  • Pay off the balances on your existing debt
  • increase your monthly income

Nome Sweet Homes now hiring!

Tired of punching a clock? Like to help people? Have a can-do attitude and a strong sense of personal responsibility? If you have ever considered a career in real estate, I would like to help!

Flexible hours, hands on mentor-ship, with an established and successful brokerage. I will walk you thru the process of getting your required education and license, then reimburse many of your costs after your first closing.

Call or email for more information!

Single Story For Sale in Kotzebue, Northwest Arctic Borough

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•  single story$300,000.

– Lots 1, 2 & 8, Block 12, USS 4498, Tract A. The “L”-shaped parcel consists of three lots totaling 38,644 square feet or 0.89± acre. House Addresses: “House numbers” of the mobile homes located on the appraised property are identified by the City of Kotzebue as 833A, 833B, 833C and 846A; there is also a garage identified as 832.

Public water, sewer, electricity, and telephone available.

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Commercial For Sale in City of Nome, Nome

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•  2,000 sq. ft., 3 bath, 1 bdrm commercial$285,000.

– Coffee, tea, and music!!!!
This eclectic business opportunity isn’t your neighborhood Starbucks…..its a speakeasy style of bistro that includes the local music store and gift shop, has an apartment above it, and comes with all the best coffee clientele of Nome!

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Annual Pet Vaccination Clinic

It’s time again to immunize and license your pet at the City of Nome’s Annual Vaccination Clinic.
WHEN: Friday, December 11, from 5:30 p.m. to 7:30 p.m.
Saturday, December 12, from 11 a.m. to 5 p.m.
Sunday, December 13, from 11 a.m. to 5 p.m.
WHERE: Nome Animal House (behind the AC store)
$65 for altered, $80 for unaltered, which INCLUDES ALL yearly required vaccines, and deworming, for your dogs and cats, and also the 2016 City of Nome License.
#NomeAnimalHouse