Rocket Loans reviews your application and sets your rate based on your FICO score, monthly income, DTI ratio, home ownership status, number of credit inquiries, and requested loan term.

“Prior to the crisis, there was more leeway,” says Bill Banfield, chief business officer at Rocket Mortgage ... Your debt-to-income (DTI) ratio — the portion of your gross (pre-tax ...

Your DTI ratio is calculated by dividing your total ... The minimum home equity loan you can borrow depends on the lender. For example, Rocket Mortgage home equity loans require you to borrow ...

Has a below-average score in the J.D. Power customer satisfaction study. Rocket will cover up to 2% of the conventional 3% down mortgage, allowing qualified buyers to put just 1% down. It offers a ...

He's written for some of the industry’s top brands and publications, including Rocket Mortgage ... Your debt-to-income (DTI) ratio divides your monthly debt payments by your monthly income.

Mortgages for seniors Best for cash-out refinancing: Rocket Mortgage Best for reverse ... Homeowners typically need a 620 credit score, a DTI of 43% and at least 20% equity remaining in their ...

Online lender Rocket Mortgage combines stellar customer ... lenders typically want to see a 620 score and a DTI of 41% or less. VA loan borrowers are required to pay a funding fee.

Your DTI helps your lender determine whether you earn enough income ... For most homebuyers, the goal isn’t to zero out their card balances or rocket their credit scores into the stratosphere. The ...