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by lvidal.viviendasp... from , . Nov 29th 2017 Reply

William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

The ATR rule is one of the only rules under the latest mortgage finance guidelines that is subjective.. there is no clear definition as to what's allowable, so every lender has their own guidelines.. Also understand that the ATR is also tied to Qualifying Mortgage Loans (QM Loans).. for a QM loan, the loan cannot be tied to any risky features such as balloon payments, interest only, early payoff penalties, etc.. But in general.. most lenders need to verify your income.. tax returns, w2's, pay stubs, etc.. and they are compared to your existing monthly debt payments.. if you fall within the lenders allowable Debt to Income (DTI) ratios, then the lender has met the ATR rules.. This all being said.. you should do yourself a favor, pick up the phone and call a mortgage banker/broker.. and let them calculate your ratios... typically, when a borrower does it.. they over calculate, and come up with ratios much higher than your actual.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Nov 29th 2017
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