Forgotten Your Password?

Need to Register?

Question Icon

How long is a good time period to wait to re-apply if I was denied for a FHA loan?

Was denied 5 months ago due to high DTI, been paying odwn my debt, but wondered if maybe another lender will be able to help? by john509 from Henderson, Maryland. Jun 24th 2016 Reply


You can reapply the very next day sir. Call me 214-557-4505 I specialize in first time homebuyers and people with high debt to income ratio's

Jun 24th 2016
1
0
William J Acres (William_Acres)
#1 ranked lender in Arizona - 7,802 contributions

You don't necessarily need to apply.. just contact your loan officer and let him look at your debt vs. income to see where your ratios are now.. Understand that brokers are your best bet since they deal with numerous different lenders, with each one offering a different set of lending guidelines.. the more lenders, the more lending options, and the greater likelihood your loan scenario will be accepted.. I say this, because FHA allows DTI's up to 57%.. but not every lender will allow you to go that high.. If your lender is capping you at 43% to 45%, then you should contact a different lender.. but again, look for a mortgage broker.. not a bank or credit union.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Jun 24th 2016
1
0

Now is a great time 301 915 5644

Jun 24th 2016
0
0
John Thomas (delawaremortgages)
#7 ranked lender in Delaware - 15 contributions

Not all lenders have the same DTI overlays so another lender looking at your file can certainly give you a different perspective. Your credit score can also affect the maximum debt to income ratio you qualify for as well. If you are looking for a second opinion feel free to call my office at 410-412-3319.John ThomasNMLS#38783Primary Residential Mortgage, Inc.

Jun 24th 2016
0
0
Subscribe to our news feed.