Many people think a down payment is their biggest hurdle to homeownership, but it’s not. On this week’s episode we discuss the debt-to-income ratio and how it’s keeping renters from becoming homeowners. Check out the full episode and if you have questions about how to get started with Homeowner Prep, be sure to reach out to us or drop your question in the comments.
00:00 The Biggest Hurdle In The Home Buying Process
00:38 Welcome To The Homeowner Prep Podcast
01:11 What Is A Debt-To-Income Ratio?
01:32 What Is The Ratio Needed To Qualify?
02:13 Let’s Break Down An Example
03:37 So What Are Your Options?
03:55 Option 1: Earning More Income
04:46 Option 2: Pay Down Your Debt
05:18 Recent Statistics On Debt
05:48 Why Is Credit Debt Becoming A Bigger Issue?
06:38 Recent Trend Impacting Millennials
07:15 A Temporary Credit Card Solution
07:53 We Live In The Gig Economy, Take Advantage
08:13 Getting Started With Homeowner Prep
08:31 Connect With Us On Social Media
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Homeowner Prep helps aspiring first time homeowners through real-world advice and accountability. This podcast was created for those who dream of owning their first home - and are willing to do whatever it takes to make their dream a reality!
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