Casey Johansen - Loan Officer at JFK Financial, INC / NMLS #2083264

04/07/2023

Just another happy couple becoming first time homeowners!! Plus I get new neighbors, double win!! Welcome to the neighborhood.

09/22/2022

In NY with the wife for the day before heading to NJ for a wedding!

09/18/2022

First home game of the regular season. Let’s go!!

09/01/2022

New purchase contract in the works! My first transaction in 🏡 What a good looking income producing property!

08/11/2022

CTC in only 2 weeks after offer acceptance! Just in time for a 21 day close of escrow.

08/01/2022

🤞🏼🙏🏼🤞🏼🙏🏼

07/19/2022

New escrow! What a beautiful home in the Sacramento area!

07/12/2022

https://professionalsverified.com/2022/07/12/routine-maintenance-of-various-systems-in-your-home/?utm_source=dlvr.it&utm_medium=instagrambusiness

07/06/2022

Pre-Approval: The Key to Today’s Home Buying Process

07/05/2022

Win the Bidding War With Our 5 Minute Guide to Making an Offer the Seller Wont Refuse

07/04/2022

06/20/2022

Today, I will go over the quick and dirty formulas for the Debt-to-Income Ratio, also known as the DTI Ratio. DTI is very important to understand because that is the main component to know how much financing you can get approved for. High income does not automatically mean you will get a large loan. You also must keep your debts low to create a low DTI Ratio.

The quickest way to get a ballpark monthly Housing Payment would be 50% of Gross Monthly Income. This number will be your total monthly debts allowed. If you make $6,000 a month, your monthly debts combined should not exceed $3,000. Now you just subtract any debts that you pay, such as Credit Cards, Student Loans (even in deferment), Car Payments, and Personal Loans. If all your debts add up to $1,000, then you know you can afford a $2,000 Mortgage payment.

Since Mortgage Loan Originators use Gross Monthly Income to get borrowers approved, some may not like having such a high monthly payment. This coins the famous term “House Poor” – When someone has most of their income going to the house payment and not working on their financial goals. To avoid being “House Poor”, use 25% of your Gross Income to calculate your house payment. Using the same numbers above, 25% of $6,000 is a $1,500 Mortgage payment.

These 2 methods are the easiest ways to calculate DTI, but as always, please talk to a licensed Loan Originator to get the right fit for you and your financial situation. Everyone is different.