Dec
22
A Quick Debt to Income Ratio Update
ByEffective December 2009, conventional loans will be maxed out at a TOTAL debt to income ratio of 45% (up to 50% with strong compensating factors which are determined by FNMA/FHLMC guidelines.)
FHA loans continue to have a front-end max housing payment debt ratio up to 47% and a max TOTAL debt to income ratio of 57% with compensating factors; as of the time of this posting.
If you would like further information on what this means to you and qualifying for a loan, please contact me today.
Look forward to the next posting from Jeff Cook – the CA Mortgage Guy!
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