Do I have to pay more on mortgage interest rate if the back-end ratio is higher than 43%?
Date: Tue, 11/14/2017 - 21:25
Do I have to pay more on mortgage interest rate if the back-end ratio is higher than 43%?
It will be difficult to get a
It will be difficult to get a Qualified Mortgage. Lenders may not approve your mortgage application since a high DTI ratio puts questions on your ability to make monthly mortgage payments.
How about your credit score?
Submitted by Sanders Patricia on Thu, 11/16/2017 - 05:08
( Posts: 1241 | Credits: )
Keeping the debt-to-income
Keeping the debt-to-income ratio under 43% is very important. In most cases, that is the highest ratio a borrower can have and still get a Qualified Mortgage. So, Yes, it'll be difficult to take out a mortgage loan if your DTI ratio is higher.