2006-10-14 05:13:28 · 4 answers · asked by Al 1 in Business & Finance ➔ Renting & Real Estate
They absolutely do. There are several programs that allow you to exceed a 36% DTI (debt-to-income) ratio. There are loans which can be submitted through Fannie Mae's automated underwriting system, which will either approve or deny the loan after looking at the whole picture- income, assets, credit and liabilities. I have seen loans with certain criteria get approved with 60% and over. It depends on "compensating factors".
There are also several other loans that have a 50% DTI limit, and are good, prime loans.
Work with an expert who will help "custom build" you the perfect loan for your situation. Good luck!
2006-10-14 05:55:12 · answer #1 · answered by Justin 3 · 0⤊ 1⤋
Most definitely.
They will even allow non documented loan. That is they don't even check to see how much income you have. As long as you have good credit records, sufficient hard assets and the loan is guaranteed by the property, they will be happy to lend you more money than you need.
Best wishes.
2006-10-14 06:03:18 · answer #2 · answered by JQT 6 · 0⤊ 1⤋
TO THE PEOPLE ABOVE SHUT UP UNLESS YOU KNOW WHAT YOU ARE TALKING ABOUT.
TO ANSWER YOUR QUESTION: YES YES YES
MOST BANK LIKE TO HAVE 55 DTI(max) OR LESS. If there is a problem with the DTI go stated.If you need any other questions answered please email
2006-10-14 07:20:18 · answer #3 · answered by jon g 3 · 0⤊ 1⤋
absolutely. you will need to show compensating factors like strong credit scores, reserves, job stability, and probably some history of carrying larger payments.
2006-10-14 06:11:25 · answer #4 · answered by Anonymous · 0⤊ 1⤋