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I have a debt ration of 23/53 and trying to obtain approval for an FHA Mortgage. Is this possible to be approved by Underwriting?

JKennedySLG · Posted: Mon Dec 28, 2009 6:59 pm Post subject:

There is a lender who will underwrite up to a 55% back end Debt Ratio. They will require a credit score above 660 and it is obviously on a case by case basis. They also offer a Mortgage Insurance product for individuals with credit above 720, which will reduce your Mortgage Insurance payment by nearly 50% a month and in turn reducing your Debt Ratio. I hope this helps...

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