Mortgage Debt-to-Income Ratio – Conventional, FHA, VA, USDA Loan DTI

DTI Ratio

The Debt-to-Income Ratio, also known as “DTI Ratio”, are simply a couple of percentage representing applicant debt compared to their total income. Lenders use mortgage debt-to-income ratio percentages to evaluate a borrowers ability to repay them as agreed. Maximum debt-to-income ratios may vary based upon the mortgage program and the lender. Read More

Conventional Loans – Conventional Conforming Loan Programs

Conventional loans have been considered the garden variety mortgage program for over 80 years. The term ‘conventional loan’ is defined as any mortgage that isn’t guaranteed or insured by a government agency. Today’s conventional loans may be either “conforming” or “non-conforming”, although ‘conforming loan’ programs are often loosely referred to as ‘conventional loans’. Conventional conforming loans are conventional programs that meet or ‘conform’ to guidelines set forth by the Federal Housing Finance Agency (FHFA), as well as the funding criteria for either Fannie Mae and Freddie Mac.

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Conforming Loan Limits are Conventional Loan Limits | 2017

Conventional Loan Limits

The Federal Housing Finance Agency (FHFA) recently announced that 2017 conventional loan limits would be raised to $424,100 for single-family homes.  This increase in these ‘conforming’ loan limits was the first since 2006. These limits may be exceeded if the property is located in a high-cost area. Read More

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