2007-08-11 02:38:44 · 5 answers · asked by SadToday22 3 in Business & Finance ➔ Credit
Hey "Since you ask" do NOT judge me you do not know me!!! How do you know why I am in debt? Maybe it's because something terrible happened to me....get over yourself jerk!
2007-08-11 02:49:50 · update #1
Many people have high debt to income ratios and can still qualify for a mortgage loan. There are many options available out there for people who have a high debt to income ratio, also referred to as DTI. One solution to a high debt to income ratio is to work with a lender that allows for a high debt to income ratio. Typical good credit lenders allow for debt ratios around 40%, although many times an automated underwriting system may qualify borrowers with a much higher DTI too. Typical below average credit score lenders will allow a maximum debt to income ratio of 50%. Then there are even a few other lenders who will allow debt to income ratios up to 55%, and sometimes even 60% on rare occasions. Consult a mortgage broker today to find the right lender for your individual situation.
2007-08-11 02:46:50 · answer #1 · answered by mmm 1 · 1⤊ 0⤋
This Site Might Help You.
RE:
How can I refinance my mortgage when my debt to income ratio is so high??
2015-08-10 03:55:08 · answer #2 · answered by Jaynell 1 · 0⤊ 0⤋
You can't refinance and it's a good thing. Why did you let yourself get into debt over your head? It shows that you don't care about being responsible for your own consequences. You need to pay down your debt and improve your financial portfolio, and grow up.
EDIT:
You have further demonstrated your dishonesty. You pose a question and then fail to give relevant information required as a prerequisite to any reasonable response. Indeed, you have proven me correct again. If you can't handle the truth in the responses you receive, then I suggest you withdraw the question and go and hide. Meanwhile, I will continue to respond as I see it. And I can see right through you.
Frankly, if your needs were truly legitimate, I would provide you with the funds, I have more than I need. But you only rant and whine and complaint nonproductively like a child. So, keep on whining. Oh, and have a nice day.
2007-08-11 02:46:48 · answer #3 · answered by Since you ask. 3 · 3⤊ 5⤋
Hmmmm. Sounds blunt, but... get a second job? That should increase your income... May not be fun, but it is guaranteed to increase your income side, and probably will decrease your spending... 'cause you'll be too busy working to spend any more money...
2007-08-11 02:46:23 · answer #4 · answered by victronia 3 · 1⤊ 0⤋
Basically you cannot refinance. You owe too much money to credit companies. You have boxed yourself in and the only way out is 2 jobs and morre monthly income...Work your way out...
The only other ting you can do is go to a home morgage company in your city and aask if they will do a refi...
2007-08-11 03:06:46 · answer #5 · answered by Gerald 6 · 1⤊ 1⤋
You probably can't. Work on the debt problem.
2007-08-11 02:55:36 · answer #6 · answered by Dewey K 2 · 1⤊ 1⤋
go to the bank and ask.
if you have that much you interest may be so high that it isnot worth the aggravation.
2007-08-11 02:46:39 · answer #7 · answered by Michael M 7 · 1⤊ 0⤋