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I am in need of a Jumbo loan for 620k, but I have a current DTI of 49%. Are there lenders that will accommodate this type of situation?

by kevin.morris181 from La Jolla, California. Jan 7th 2016 Reply


Brian LeBars (brian_386_375)
#592 ranked lender in California - 3 contributions

Hi Kevin...It may depend on the loan to value. I would also look at the max conventional loan limits in your County and see if you can fall under a high balance product. I would be happy to help look into options for you if you exhaust them with your current provider.Thanks,Brian

Jan 7th 2016
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Jennifer Wilson (Jennif_768_803)
#566 ranked lender in California - 12 contributions

HI Kevin,Perhaps paying off debt to lower the dti....Is this an option? Call Jennifer Wilson to discuss...Mountain West Financial 951 264-1003

Jan 7th 2016
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,055 contributions

More info needed.. First, I would ask how you came up with your DTI.. did you calculate it on your own, or did a mortgage professional tell you what your DTI was? If you did it on your own, then I would suggest you have a professional calculate it. Typically, borrowers add too much into their ratios, more than what the lender looks at.. so it's best to let a pro calculate it.. If a lender told you that's what it is,then your only option is to look at lower priced homes, or figure a way to lower your DTI.. Also, if you have a true 49% DTI, but your Loan to Value (LTV) is lets say 60%, then it's possible a lender might expand their ratio for your scenario.. but without looking at your complete loan profile, it's impossible for anyone here to say for sure.. Try contacting a local mortgage broker and let them review your file... once someone has looked at your complete loan picture, only then can you be advised properly.. 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

Jan 7th 2016
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Dan Paladin (dpaladin)
#1 ranked lender in California - 450 contributions

In San Diego the conforming limit is over $620K...going with conforming jumboit is possible to get approved with a 49% DTI...more info is needed sofeel free to contact me. 562.254.5616.

Jan 8th 2016
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Phil Dumouchel (PhilDu)
#1 ranked lender in South Carolina - 2,228 contributions

A good, experienced mortgage lender will look at your over your full picture and likely could find a way to make that work for you but it depends on credit, downpayment, type of property, etc - the total picture.

Jan 8th 2016
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Larry Gray (lgray_312_247)
#563 ranked lender in California - 1,127 contributions

As you likely gathered, more information was needed by all. If in your area, high balance loan can mean up to $625,500) then absolutely we do loans wherein DTI is above 45%. I am assuming you consulted with at least one mortgage professional to conclude you have a DTI of 49%, or somehow figured out your PITIand included required monthly payments towards the DTI?

Jan 11th 2016
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