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cjpritchett · Joined: 08 May 2009 Posts: 1 1.67 Dollars($)

I am a resident of Atlanta and I'm under contract with a home and the lender is telling me my debt to income ratio is to high to qualify.

Facts:
1) credit score is 660
2) 2nd time homebuyer
3) renter in first home w/ mortgage and 25% equity
4) my self employment income is not being calculated in my DTI b/c i've written off everything....

I can definitely afford this mortgage, is there any lender out there that could finance a loan??

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.76 Dollars($)

One way to reduce your DTI would be pay off any current loans(If Possibel), Car Loan,s and credit card debt. Show your lender that you have made payments and they can calculate based on the new numbers.

savior70 · Posted: Sat May 09, 2009 4:54 am Post subject:

Hi

In order to lower your DTI ratio, you'll have to pay off your debts, especially the ones with higher interest rates like credit cards. Your credit score looks enough to qualify for a loan. As far as I'm aware of, FHA loans do allow a DTI ratio of upto 41%. What is your DTI ratio? Is it even higher than 41%?

gmakerley · Posted: Sat May 09, 2009 6:43 am Post subject:

your biggest problem seems to be income, not debt. you're going to have to change the way you report to the irs and take fewer losses; thereby adding income. of course you can pay down some debt to help you, but it might not be sufficient if your bottom line income is too low.

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.76 Dollars($)

Check with a Tax consultant to how to orgnaize, so it will be easier to show more income.

Guest

I would want to share this good news with every one.My name is Mrs Melany Chow,I needed a loan of $100,000 urgently,I was referred to SMITH LOAN AGENCY by a friend of mine.This wonderful company helped me with the loan funds in less than 2 weeks

For those of you who are seriousely in need of loan,I will strongly advise you email smithfinacialservice @ yahoo.co.uk

I assure you,you will get your loan funds in less than 2 weeks of applying.

Please you all should help me thank Sarah for directing me to this wonderful company.

Many regards,
Mrs Melany Chow

[Link deactivated as per forum rules. Thanks.]

JKennedySLG · Posted: Tue May 26, 2009 3:57 pm Post subject:

This looks like an advertisement above me which is uncalled for.

Aside from that, you're able to omit any debts which have less than 10 months worth of payments remaining. Please review your credit and see if your lender has indeed omitted items with less than 10 payments. This is a fast and easy way to reduce DTI without really having to do anything. I hope this helps...

gmakerley · Posted: Wed May 27, 2009 7:15 am Post subject:

fortunately, for those of us in the usa, that post above was from the uk. i certainly hope all the folk from maine to california (and hawaii and alaska, too) won't try calling the number given.

gmakerley · Posted: Thu Sep 03, 2009 6:21 am Post subject:

tina, that advertisement is contrary to the tenets of this community. please refrain from placing your ads in the form of comments to others' posts. thanks.

Guest

Hello,
I Am Mr Harry Ford.A legit loan lender.Are you into debts? Do you have a bad credit?Are you financial down.I give out loans at low interest rate of 3%.I give out loan to Business,Auto and personal loan to Men and women who are into Business transaction, I give out long term loan for ten to fifteen years your interest in this you can as well tell me the amount you need so that I can send you the terms and condition and monthly repayment that if you are realign interested in getting a loan from me,hope to here from you soon.
Regards
Mr.Harry Ford.

[Link deleted as per forum rules. Thanks.]

gmakerley · Posted: Tue Sep 08, 2009 8:10 am Post subject:

harry ford this is in violation of the guidelines of this community. please refrain from advertising.

and a word to the wise: consider an editor

gmakerley · Posted: Fri Nov 13, 2009 11:46 am Post subject:

whoever is foolish enough to take up morris cain loan executive on his offer of "[b]no guarantee of safe loans[/b]" is most deserving of whatever happens.

Guest

hey you need money i gots money 5 dollars for twenty twenty dollars for a hundred

gmakerley · Posted: Mon Nov 16, 2009 9:03 pm Post subject:

how appropriate to take a name like "psycho"

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How can I lower my DTI? QUICKLY!!! I need a loan