mortgage terms

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total debt ratio
Monthly debt and housing payments divided by gross monthly income. Also known as Obligations-to-Income Ratio or Back-End Ratio.

trailing spouse income
The anticipated income of the spouse of an employee who is being transferred to a new area. Typically, 50% of the income previously earned by the spouse is used.


Truth-in-Lending Act
A federal law requiring a disclosure of credit terms using a standard format. This is intended to facilitate comparisons between the lending terms of different financial institutions.  back button


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