What is the highest debt to income ratio you can have and still get approved for a mortgage?

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Typically 50% Debt to Income ratio. Some lenders will let you go higher. For example I have gotten customers approved with a DTI ratio of 124%, but the customer had over 500K in retirement funds and a medium credit score of 803 and the Loan to Value was only 60%. A lot of different factors go into providing an approval to a customer. What I would recommend is to call your local bank and see if you can do a free pre-approval to see if they can get you approved based on your particular situation. For mortgages The original question pertains to DTI ratios for mortgages. The standard "front ratio" is 28 percent. To calculate the front ratio, divide the total payment (principal, interest, insurance, and taxes) by your gross monthly income. If it's over 28 percent, you may not be eligible for conventional mortgages. The standard "back ratio" is 36 percent. To calculate the back ratio, add up all your monthly debt -- mortgage payment, credit cards, school loans, car payments, etc. -- and divide that by your gross monthly salary. If that is more than 36 percent, that may also disqualify you.
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Can you change your debt to income ratio?

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Mortgage debt reduction is it taxable income?

Yes. Although under a recent tax law in some very specific cases it may not be.. Borrowed money is not taxable, because you incur a liability to repay exactly what you borrow

What is the highest debt to income ratio you can have and still get approved?

What Day & Time Is It?? Mortgage lenders are changing their rules like the wind on todays market.. In a practical world the answer is 25% of net income or 30% of debt obligat

If a property has a rent payment equalling its mortgage payment does that become a non-factor in debt to income ratio?

Not if you are trying to get approved for a mortgage. The way mortgage underwriting guidelines treat rental income is to give credit for 75% of the monthly rent. This is done

How do you calculate the debt to income ratio?

See, it has to be a ratio of your total monthly income and your total monthly debt payments. First of all, you should add your monthly income. On the other hand, you have t

What is a good debt to income ratio?

31% is what most lenders look at as being acceptable. This is going to vary depending on the loan product and all of the other factors that are taken into consideration in

How do you find Debt-to-income ratio?

A debt-to-income ratio (often abbreviated DTI ) is the percentage of a consumer's monthly gross income that goes toward paying debts. (Speaking precisely, DTIs often cover

Does leasing a car increase your debt-to-income ratio?

In theory, an auto lease is the same as renting an apartment or anything else for that matter. If you stop paying the lease payments and return the car, you may have to pay a

What is a monthly debt to income ratio?

All known monthly debt (everything reporting on your credit report, plus mortgage and housing debt such as taxes and insurance, including legal debts such as alimony) in compa

What is the debt to income ratio used for?

A debt-to-income ratio is the percentage of a consumer's monthly gross income that goes toward paying debts. There are two main kinds of DTI, as discussed below. Two mai