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gregcooney1 · Joined: 15 Oct 2009 Posts: 4 2.19 Dollars($)

IS it poosible to get a mortgage with a dti of 58-60% I have a 780 fica score. 20% downpayment, money for closing , and also about an additional 15k in my 401k. I been at my job for to years . i currently do not have any other bills.

jenkin7 · Posted: Fri Oct 16, 2009 1:14 am Post subject:

Hi gregcooney,

Your fico score is excellent. A 20% down payment is also sufficient to help you get a loan. You also have a 2 year employment history. So, things are looking good for you. As far as the DTI ratio is concerned, it is better to reduce your ratio to somewhere around 50%. A 58-60% DTI ratio is a bit too high. But given the fact that you fulfill the other required eligibility criteria, it is possible that a lender would be ready to offer you the loan even with a high DTI ratio.

JKennedySLG · Posted: Fri Oct 16, 2009 8:45 am Post subject:

As stated in a previous post. A 60% DTI is rather high, but there is an FHA program for individuals like yourself in NY & NJ area. Fixed rates in the 5% range and hassle free process. I hope this helps...

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Iam really surprised thet there are still available for people with 60% DTI and also with 20% Down payment

My doubt is that they may ask you to pay some of yoru short term debt before they approve

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58-60% DTI is this possible?