What is Kirk's best option if he can't obtain a qualified mortgage due to his debt-to-income ratio?

When Kirk is unable to secure a qualified mortgage because his debt-to-income (DTI) ratio exceeds the acceptable limits, the most effective approach is to pay off existing debts or increase his monthly income. This strategy directly addresses the core issue he is facing. A lower DTI ratio is crucial for improving his eligibility for mortgage approval, as lenders generally prefer a lower ratio to ensure that borrowers can manage their loan payments along with their other financial obligations.

By paying off debt, Kirk reduces his total monthly debt payments, thus lowering his DTI. Alternatively, increasing his income—through a raise, a new job, or additional part-time work—can also improve the ratio. Each of these actions enhances Kirk's overall financial standing, making him a more attractive candidate for mortgage approval.

While exploring options like finding a co-signer, aiming for a less expensive property, or waiting for a credit score to improve may have merit in different scenarios, they do not directly tackle the immediate issue of the debt-to-income ratio. Focusing on reducing debt or increasing income provides a proactive solution that specifically addresses the barrier to obtaining a mortgage.