Keep your ratios in check

Your ability to get a mortgage is based on a number of factors. Lenders typically make lending decisions based on three key ratios: (1) Loan-to-Value Ratio (LTV), which represents the ratio of the loan amount to the value of the home. Lenders ideally want to see an 80% LTV, meaning a 20% down payment is preferred; (2) Housing Ratio, which represents the percentage of your total income that goes towards housing expenses; and (3) Debt-to-Income Ratio, which represents your total debt payments, plus housing expenses as a percentage of your total income. Lenders will typically look at any of these ratios as constraints, meaning once any of these ratio limits is reached, the amount of the loan will be capped.

Disclaimer: The accuracy of these calculators and applicability to your circumstances is not guaranteed. Calculators are not a guarantee of credit. Results should be discussed with a qualified professional before any product purchases or loan commitments are made.

South Dakota Mortgage Representatives

Johanna Del Soldato
Johanna Del Soldato
Mortgage Loan Originator
Rapid City
Call or Text 605.858.6164
NMLS# 944366
Aaron Renville
Aaron Renville
Mortgage Loan Originator
Rapid City
Call or Text 605.858.6020
NMLS# 1080128
Amber Zandstra
Amber Zandstra
Mortgage Loan Originator
Spearfish
Call or Text 605.858.6178
NMLS# 827991
Candice Menke
Candice Menke
Mortgage Loan Originator
Sioux Falls
Call or Text 605.937.4517
NMLS# 102874
Christy Cline
Christy Cline
Mortgage Loan Originator
Rapid City
Call or Text 605.858.6294
NMLS# 472626
Joe Prince
Joe Prince
Mortgage Loan Officer
Rapid City
Call or Text 605.858.6146
NMLS# 963765