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Please explain how this works:

 

If your DTI has to be under 50 and you get an 80/20 combo is the DTI combined w/both the 80 & 20 or is it a seperate DTI under 50 for each example:

 

80=48.25

20=23

Total= 71.25 DTI

 

do they total both or as long as your DTI is under 50 under each you're ok?

 

80=48.25 seperate

20=23 seperate

No combining DTI (this way your DTI is under 50 for both qualifying you for a 100 LTV.

 

I hope this makes sense because I'm confusing myself.

 

Thanks in advance!

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Please explain how this works:

 

If your DTI has to be under 50 and you get an 80/20 combo is the DTI combined w/both the 80 & 20 or is it a seperate DTI under 50 for each example:

 

80=48.25

20=23

Total= 71.25 DTI

 

do they total both or as long as your DTI is under 50 under each you're ok?

 

80=48.25 seperate

20=23 seperate

No combining DTI (this way your DTI is under 50 for both qualifying you for a 100 LTV.

 

I hope this makes sense because I'm confusing myself.

 

Thanks in advance!

 

DTI is all of your debt plus your PITI.......on an 80/20 it would be both payments.......plus any HOA fee's

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Please explain how this works:

 

If your DTI has to be under 50 and you get an 80/20 combo is the DTI combined w/both the 80 & 20 or is it a seperate DTI under 50 for each example:

 

80=48.25

20=23

Total= 71.25 DTI

 

do they total both or as long as your DTI is under 50 under each you're ok?

 

80=48.25 seperate

20=23 seperate

No combining DTI (this way your DTI is under 50 for both qualifying you for a 100 LTV.

 

I hope this makes sense because I'm confusing myself.

 

Thanks in advance!

 

DTI is all of your debt plus your PITI.......on an 80/20 it would be both payments.......plus any HOA fee's

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Thanks Cedski,

 

but what I'm trying to figure out is does the DTI have to be under 50 for both or will they combine 1 DTI to the 2nd DTI. If my 80 is 48.25 & my 20 is 25. something will this keep me from getting a loan bcz I would be over the required DTI of 50?

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ALL Debt from all credit obligations go into the calculation fr DTI... This includes any revolving credit (cards, stores etc...) Plus Car loans student loans etc...

It will be based upon all Mortgage Loans as well......

 

Sounds like you are going to have a tough time qualifying using a full document loan based upon the percentages you are giving.....

 

There are other loan types where you can get 100% loans without the DTI playing into it but they require 680 or higher credit in most cases and the rates will not be as good.......

 

 

Good Luck

Brian

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the dti is both loans..

 

If you list your debts minimum monthly payments on the credit report and then your monthly income before taxes or yearly income and what rates you are getting on the first loan and the second loan along with amounts we could probably help you out a bit better.

 

thanx

cheryl robinson

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