Earnings Confirmation and you can Financial obligation Investigations

When trying to get a secondary mortgage, loan providers usually cautiously evaluate the borrower’s money and you may debt obligations. To invest in one minute household means of course a second financial, therefore lenders will scrutinize the latest applicant’s performs record and you may money to ensure they can manage the elevated monetary duty.

Loan providers typically measure the borrower’s personal debt-to-earnings ratio (DTI) to decide their ability to handle mortgage repayments. Continue reading →