Interesting note from LO - DTI and PMI for Conventional

[road2freedom]

I know we've discussed DTI quite a bit, the norms and the exceptions, but I'm not sure if this was discussed previously... The LO mentioned that DTI could exceed 45% but that <=45% was required in order for them to obtain PMI on the loan. This was for conventional with <20% down, obviously.

[Brian B The Loan Professor]

This is only if you can get an automated approval - I believe even with 20% down you would be maxed at 50%

things get easier the more skin you put into the game

[road2freedom]

Makes sense - thanks Brian! I wish I would have focused on cash accumulation sooner... but live and learn.