REBECCA JACOBS FELDSTEIN | Intown Atlanta Real Estate, Sandy Springs Real Estate


Modern AND affordable in Edgewood? Here it is! Enjoy waking up in this natural light soaked house with 3 spaces to let the outdoors in...2 decks off the front of the house and a patio off the kitchen. Front, back and side yards are available for furry friends but not so big that you have to worry about too much yard maintenance. WALK 2 blocks to Candler Park MARTA station with new restaurants and retail coming in soon or Little 5 Points is a short 15 minute stroll away. Don't forget the finishes! Custom tile in baths and kitchen make this one a stunner!

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Walk to the new movie theater! Cute, cute 1/1 is part of a duplex with a lot of space to make your own. Perfect location situated right across from Walker Park with a playground, soccer fields and sometimes even a festival or 2. Jump right on Moreland Ave or I-20 to get around quickly intown to all that Atlanta has to offer. Shared parking in the back and shared small yard in the front. Great space for anyone wanting charm along with a spacious feel. Sorry, no vouchers.

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You know when you buy a home that your credit score matters, but do you see all of the numbers that matter to your financial picture when you’re buying a home? Your debt-to-income ratio is one of the most critical figures that will influence if you can get a mortgage and what type of rate you can get. 


What Is A Debt-To-Income Ratio?


This number is exactly what it states: the ratio of debt divided by your gross monthly income. Your credit report doesn't include any of this income information. This number is actually the best way to see if you’re living within your means or not. This way, your lender will know your monthly debt payments along with your monthly income.  


If your ratio of debt is high, you may not get a loan or get less desirable interest rates than if you had lower amounts of debt. Even if you have a high credit score, your debt-to-income ratio could affect these things. In reality, a higher debt ratio will make it harder for you to pay back your debt, so it’s important to you. 


How It’s Calculated


You can use an online tool to help you calculate your debt-to-income ratio. You can also use a simple formula if you’re up for doing some math yourself:


Divide your monthly debt payments by your monthly gross income then multiply that number by 100. For example:


Student loans: $400

Car loan: $300

Rent: $700

Income: $4,000 


1400/4000= 0.35 x 100= 35%


Household Ratio


You should also be aware of something called your household ratio. The household is the amount of home-related expenses which includes property taxes, prospective mortgage, home insurance, and more. These costs are divided by your monthly income to get this ratio as well. Obviously, your household debt adds to your financial commitments and is also put into consideration by your lender.    



What’s A Good Debt-To-Income Ratio?


It’s ideal that you keep your ratio less than 36%. Your household ratio should be even lower than this. It’s great to be debt free, but in the real world, that’s not always possible. Your best bet is to be responsible with your finances and work on paying your debt down as much as you can. Then, little by little all of the critical numbers that are required to get a mortgage will fall into place.  

    



162 Wesley Ne Avenue, Atlanta, GA 30307  

Residential
$575,000
Price
4
Bedrooms
3/1
Full/Half Baths
Modern AND affordable in Edgewood? Here it is! Enjoy waking up in this natural light soaked house with 3 spaces to let the outdoors in...2 decks off the front of the house and a patio off the kitchen. Front, back and side yards are available for furry friends but not so big that you have to worry about too much yard maintenance. WALK 2 blocks to Candler Park MARTA station with new restaurants and retail coming in soon or Little 5 Points is a short 15 minute stroll away. Don't forget the finishes! Custom tile in baths and kitchen make this one a stunner!


1416 Memorial Se Drive, Atlanta, GA 30317  

Rental
$1,150
Price
1
Bedrooms
1
Baths
Walk to the new movie theater! Cute, cute 1/1 is part of a duplex with a lot of space to make your own. Perfect location situated right across from Walker Park with a playground, soccer fields and sometimes even a festival or 2. Jump right on Moreland Ave or I-20 to get around quickly intown to all that Atlanta has to offer. Shared parking in the back and shared small yard in the front. Great space for anyone wanting charm along with a spacious feel. Sorry, no vouchers.




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