Wednesday, April 13, 2011

The REAL Debt-to-Income Ratios

We received a number of calls in the past few weeks from prospective home buyers who had been told by various lenders that they were unable to qualify for a mortgage because their debt-to-income ratios (DTI) were too high. Most of them had been misinformed.

Here are the real debt-to-income ratio numbers:

  • FHA loans do not have a maximum DTI ratio. With good credit, borrowers are commonly approved with a DTI of 50% or slightly higher.
  • VA loans do not have a maximum DTI ratio. With good credit, borrowers are commonly approved with a DTI of 50%.
  • Conventional loans have a maximum DTI of 50%.
Check out the video library on our web site for more detailed information on DTI ratios. Here's the link:

http://www.mtgsupportservices.com/Mortgage_Video_Tips.html

Getting a loan approved is easy - if you know what to do. The Mortgage Experts know what to do!!!

If you want to be sure your loan is going to close, call us at 303-345-3683.

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