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The Daily Money: How much debt is too much to get a mortgage?

Email sent: Jul 22, 2021 10:39am
In today's Daily Money newsletter, we have insights on mortgage loans, Social Security and a free taco offer from Taco Bell after NBA Finals. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
usatoday.com

The Daily Money
ALL THE MONEY NEWS YOU NEED TO KNOW
 
Thursday, July 22

Good morning, it's Nathan wishing you a happy Thursday!

I know there's a lot of disagreement out there about COVID travel policies, but one thing I think we can all agree on is that you shouldn't pretend to be your spouse in an attempt to board a plane.

On to our ... 

💡 INSIGHT OF THE DAY: If you're looking to buy a home, most mortgage lenders historically won't lend to you if you're debt-to-income ratio will be more than about 38%. But for certain types of mortgages, that figure can actually rise as high as 58%. To calculate that figure, add up all your monthly payments on debt , including the potential mortgage, and divide it by your monthly income.

📰 And here are more stories you won't want to miss:

1. Social Security only covers 40% of retirement on average. Here are some tips on how to make up the difference

2. Are businesses allowed to ask you if you're vaccinated? In a word, yes. They can ask you for proof, too.

3. Bought a muffin recently from Walmart or 7-Eleven? It might be subject to a recall blamed on listeria contamination.

4. What a windfall! After returning from space flight, Jeff Bezos announced he's donating $100 million each to chef José Andrés and CNN commentator Van Jones.

5. Taco Bell is giving away free Flamin' Hot Doritos Locos Tacos on Thursday: The promotion is tied to the Milwaukee Bucks' victory over the Phoenix Suns in the NBA Finals.

If you were a Suns fan, would you still indulge? I would. But that's easy for me to say since I was cheering for the Bucks.

[email protected]NathanBomey

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