Lenders look at this ratio when they are trying to decide whether to lend you money to purchase a home. A low Debt (what you owe, monthly bills, bank cards, car payments etc) to income ratio (how much you make a month at work) you want to show lenders you have a good balance between debt and income. Lenders like this number to be low -- generally you'll want to keep it below 36, some can go higher but the lower it is, the greater the chance you will be able to get the home loan to purchase your home! It is a good idea to meet with a lender!
First, the only person who can approve or deny your applications is a lender with a full file. Your good credit however does not make up for their bad. Lenders will consider the middle score of the weaker borrower when looking at programs. One job, two or three, if they don't pay their bills on time, a mortgage lender will have a difficult time believing this will change.
Speak to some lenders and let one have a full look at the application. If you can't get approved now, a good lender can advise you what to do to improve the scores and get you on the right path sooner.
Good luck to you in any case,
Isaac Real Estate Team
Champions Real Estate Services
TriStar Finance #MLO-107799
Office: 425-483-6849 Cell: 206-841-9976
Winner of Seattle Magazines 5 Star
Real Estate Agent Best in Client Satisfaction Award
Mortgage Loan Originator Best in Client Satisfaction