Wednesday, January 18, 2012
I recently applied for FHA loan Now I have a question about income to debt ratio for that loan?
Here is my info if anyone can help. I make 2988.80 gross a month not including overtime. which i make about 60 hours a month in that. I have a 400/month car note which ends in may08 i pay 600/mon child support and that is about it except i do pay 375/mon rent and about 40/mon insurance. I was told my income to debt ratio was 47 percent when it needs to be 43 percent. the underwriter told me this today because she thinks that they are looking hard at that. Is this to high to get the house i want which cost 124500 and we are put 3% down on it. Is there any mortage brokers out there who could tell me what is going on right now because right now this seems to be the only thing standing in the way of the house i want.
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