Reports by Consumers

From a list of eight steps for consumers to get their finances in order, number two.

2. Reduce your debt. Generally speaking, lenders look for a total debt load of no more than 36 percent of income. Since this figure includes your mortgage, which typically ranges between 25 percent and 28 percent of income, you need to get the rest of installment debt—car loans, student loans, revolving balances on credit cards—down to between 8 percent and 10 percent of your total income.

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Read more from this blogger: 8 Steps to Getting Your Finances in Order For a Mortgage