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Lenders consider your debt-to-income ratio, or DTI, a key factor when determining your eligibility for a mortgage. Paying off a car loan can potentially lower your DTI and improve your chances of ...

Troy Segal is an editor and writer. She has 20+ years of experience covering personal finance, wealth management, and business news. Toby Walters is a financial writer, investor, and lifelong learner.

You can make costly mistakes if you don't follow them Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have ...