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Company Loan Type APR Est. Pmt.

back end ratio is 21 front is 42

Posted on: 15th Jan, 2014 08:01 am
We are trying to get qualiyed for a mortgage,while we are selling our current home?our back end ratio is 21%and front end is 42%we hope to qu-our creatit is 700,we are moving to another state,and selling our current home,thank you may!
These ratios are fine - does it include the current mortgage? If not then you will have to sell before buying - if it does the only question will be employment - how is the job situation in the new state?

Brian
Posted on: 15th Jan, 2014 09:55 am
A debt ratio of 42 is OK.
Even higher debt ratios are possible, possibly up to 50% with FHA.

It is not possible for the front end ratio to be lower than the back end ratio. Maybe you just stated it backwards.
Posted on: 15th Jan, 2014 12:33 pm
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