| Author |
Previous Topic | Next Topic |
|
kmarsullo32
47 Posts |
 Posted - 05/09/2008 : 3:54:21 PM
|
Good afternoon
I have a scenario - MT $300k loan amount. FD -- O/O SFR
I have heard of banks in the past that have a few programs that will go up to 60-65% dti ?
Do they exist, or does anybody know of one that does?
Thank you in advance
Ken |
|
davidfr
437 Posts |
Posted - 05/09/2008 : 4:06:27 PM
|
| Not on FHA. If you run DU for FNMA you can go up that high. |
|
|
lunarhamster
2291 Posts |
Posted - 05/09/2008 : 4:08:40 PM
|
Maybe, they better have 700 fico's and lots of assets.
I actually had one last week, 700 scores, lots of money in the bank, DTI was 56% and I got a refer. |
|
|
davidfr
437 Posts |
Posted - 05/09/2008 : 4:20:47 PM
|
quote:
Originally posted by lunarhamster
Maybe, they better have 700 fico's and lots of assets.
I actually had one last week, 700 scores, lots of money in the bank, DTI was 56% and I got a refer.
Really? Was it cash out? What LTV? I am having very bad luck with cash outs on DU lately. |
|
|
lunarhamster
2291 Posts |
Posted - 05/09/2008 : 5:57:15 PM
|
It was a purchase FHA, 97%. I was kinda surprised too.
It has been happening alot lately, I had another one with a 722 mid, trying to do an FHA cash out, he had 18K in the bank, 95% and his DTI was 62%, got a refer on that one too. happy times. |
|
|
habsfan
480 Posts |
Posted - 05/09/2008 : 6:03:59 PM
|
| i've been using LP more lately - seems DU is tightening up and i get loans through LP that i can't DU. they go in cycles - sometimes DU is better, sometimes LP is better. supposed to be the total scorecard, so the answers should be the same on either system. oh well, at least i get them done. |
|
|
slants
2855 Posts |
Posted - 05/09/2008 : 7:17:56 PM
|
| Got FHA approve/eligible w/ 59% DTI @ 769 fico and 93.33 LTV. I kept increasing the LTV until the DTI exceeded 60%. It came back referred at 60% DTI, but A/E so long as DTI was < 60%. Additional down payment so LTV is below program max compensates for the higher DTI. |
|
|
| |
Previous Topic | Next Topic |
|
Search for: 
