Forgotten Your Password?

Need to Register?

Question Icon

Trying to get a USDA loan with a high DTI (about 44%) Options?

by theo.foreman833 from Millstone, Kentucky. Mar 23rd 2016 Reply


It's definitely possible especially if you're credit is above 680 or have other compensating factors. You can reach out to me if you'd like to discuss further.

Mar 23rd 2016
1
0
Lorne Harvey (lorneharvey)
#81 ranked lender in Washington - 418 contributions

That should not be an issue as long as your housing ratio is somewhere around 31%, then the 44% total debt ratio should be acceptable.

Mar 23rd 2016
1
0
William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,933 contributions

As others have said,,, that DTI is within the acceptable range.. but my question is "who is calculating your DTI".. typically borrowers who attempt to do this on their own, will not calculate it correctly.. Lenders only look at Minimum Payments on DEBT.. we do not include your day to day bills.. So car loans, student loans, minimum credit card payments, etc... are counted along with the new housing payment.. but things like utilities, cell phone, cable, insurance, etc... these are not counted towards your DTI.. remember, debt vs. bills.. two different things.. 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

Mar 23rd 2016
1
0
Subscribe to our news feed.