Qualifying Ratios

Q: We have been trying to get a home loan and were told that our debt-to-income ratio is too high. Can you tell me what this really means?
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Q: Can you please tell me what long term debt means? In other words, if you have two car payments and one won't be paid off for five years, but the other will be done in one year, are they both used for the debt to income ratio?
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Q: I was about to purchase an investment property; it was fully rented and showed a profit. However, the bank denied us saying our debt/income ratio was too high. I was under the impression that if you had enough liquidity and the property in question showed income that would be enough to get a loan approved. We have excellent credit though we do pay quite a bit for our primary residence mortgage/insurance/taxes. What can you suggest we do?
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Q: My husband and I have been married for 6 years. We filed our income taxes together except last year when we decided to file separately. We were never separated and are not considering a divorce. Will this affect the mortgage we are applying for now?
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