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

Eric Anderson
Eric Anderson
Mortgage Loan Originator
Sioux Falls
Call or Text 605.937.4512
MLO# 400265
Candice Menke
Candice Menke
Mortgage Loan Originator
Sioux Falls
Call or Text 605.937.4517
MLO# 102874
Christy Cline
Christy Cline
Mortgage Loan Originator
Rapid City
Call or Text 605.858.6294
MLO# 472626
Johanna Del Soldato
Johanna Del Soldato
Mortgage Loan Originator
Rapid City
Call or Text 605.858.6164
MLO# 944366
Amber Zandstra
Amber Zandstra
Mortgage Loan Originator
Spearfish
Call or Text 605.858.6178
MLO# 827991
Aaron Renville
Aaron Renville
Mortgage Loan Originator
Rapid City
Call or Text 605.858.6020
MLO# 1080128
Joe Prince
Joe Prince
Mortgage Loan Officer
Rapid City
Call or Text 605.858.6146
MLO# 963765
Alyssa Wilkinson
Alyssa Wilkinson
Mortgage Loan Originator
Rapid City
Call 605.858.6242
MLO# 1807074