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IN SEARCH OF A LENDER THAT CAN APPROVE A DTI OF 49%

the house i found is around $50k, I have a 685 median credit score and 3k-4k down payment. by euofch29 from Northfield, Ohio. Aug 16th 2017 Reply


Kitsy Burt (Kitsy Burt)
#8 ranked lender in Ohio - 61 contributions

Good Afternoon, I have several outlets that allow a DTI of 49%. My contact information is below.Kitsy Burt, NMLS#230669614-891-9000 phkitsy@ohiocapitalmortgage.comwww.ohiocapitalmortgage.com

Aug 16th 2017
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Hello- the answer is yes. We close loans up to 60% debt ratio if FHA or VA and we do 50% debt ratio if Conventional. Please feel free to contact me and it's always best to shop and receive free no obligation loan estimates from more than one company. Nmls 242666Co nmls 243567. 614-859-7334

Aug 16th 2017
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 7,862 contributions

More info needed,, if you are at a 49% DTI with a home of $50K.. then it's possible the underwriter will not do the loan at all.. There many things that are considered when determining one's eligibility.. but we would need to look at the whole picture to advise you properly.. The short answer is yes.. FHA and conventional does allow for DTI's of 49%.. but again, there are other factors that are considered, so it's impossible to advise you without all the info. For this reason, I suggest you contact a mortgage banker/broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with a Banker/Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the banker/broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the big box banks. 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 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Aug 17th 2017
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,477 contributions

Pretty much every non-bank lender will look at a back debt-to-income ratio of 49%, especially on an FHA loan. Contact a local mortgage broker in your area for assistance. For situations like this in MN, WI, or SD, visit me at www.WI-MortgageBroker.com

Aug 18th 2017
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