Q&A: DTI 35% calc before or after mortgage?

Question by Brian: Educated guesses about when the FHA 30yr fixed rate will drop and how much?
I’m a first time home buyer and I was just preapproved for an FHA loan with a 6.5% rate. Three months ago I was approved for a conventional loan at 6.25%. I’m just wondering when analysists are predicting rates to drop?

Best answer:

Answer by Natalia
not soon the rates are going to go up for the next year unless the government lowers them again

Add your own answer in the comments!
Question by Cat: How can I refinance from FHA to a conventional loan with little or no money down?
Just over 6 months ago, viagra dosage we bought a bank owned property. We’ve put at least 15 grand into fixing it up. I was told that we can switch to conventional with an appraisal that shows our property is worth 20% more as we don’t have cash for closing. Would we not have to pay mortgage insurance if we went conventional and why? I need a little guidance with this. Thanks!

Best answer:

Answer by Me
Join a credit union and work with them.

What do you think? Answer below!
Mortgage-Bond Sales Soar on Fed's Refinance Push: Credit Markets
The Obama administration fueled additional opportunities for refinancing by pushing Fannie Mae and Freddie Mac at the end of 2011 to expand the Home Affordable Refinance Program, medical or HARP, for borrowers with little or no home equity. Almost 791,000 …
If you would like more informaiton please visit here…

Taking advantage of the lowest mortgage rates
Q I keep hearing about these really low-rate refinance opportunities, but nobody seems to say which bank or mortgage broker is offering them. I have a 15-year fixed rate loan at 4.25 percent. I financed my loan under the Home Affordable Refinance …
More informaiton please visit here…

Diminished expectations: Oregon politicians try to repair economy, restore …
A state agency will conduct a limited test of a program to buy back and refinance underwater mortgages. Still, the …. It's similar to the federal Home Affordable Refinance Plan, the Obama administration response to upside-down mortgages. But HARP is …
More informaiton please visit here…

Annaly Capital Vs. American Capital Going Into 2013
According to the latest statistics compiled by Mortgage Bankers Association and reported by Bloomberg, sale of Agency MBS reached a three-year high. This was a result of the direct actions from the Fed, which intends to make home ownership affordable.
For more informaiton please visit here…
Question by Tia: Is it Wisconsin state law to have both spouses on the home loan application?
When applying for a home loan in Wisconsin, price is it state law that you and your spouse be on the home loan application. OR can you just apply using just you or your spouse?

Best answer:

Answer by Andrew
ATTN: Dear Client, page
I am a private registered loan lending firm base in UK, approved We offer short and long term loan. We can be of help to you. if you are interested e-mail or call us now so we can proceed to the next level.
Kindly get back to us with the loan amount need, loan duration period,sex,age,annual income, country and phone number.

Note: Even if your bank have decided not to offer you a loan because of your bad credit score, we are willing to help you.

Awaiting your prompt respond asap.
Phone Number:+Tel: 447045713070.
Fax Number:+447005931319.
Mr Frank Smith.
Email: giantloanagency@live.com

Add your own answer in the comments!
Question by Tricia: DTI 35% calc before or after mortgage?
Ok, sickness so my hubby’s DTI ratio is 35%. This is without a mortgage payment (darn car payment and student loans) (we are trying to get a house). Does our new mortgage payment need to be calculated with this number? Will a lender look at that and say the ratio is too high to qualify for a mortgage?
can you please explain to me how they look at this? We’re trying to get FHA in Pennsylvania.

Best answer:

Answer by ardeare
Up until about 8 years ago, rx lenders required that your total debt to income could not exceed 36% of your gross monthly income and that includes your mortgage. Sub prime lending came along and increased the dti to 50%. FhA is making alot of drastic changes at this point in order to give people a chance to refinance or purchase new homes. Your best bet is to arrange a meeting with an FHA approved lender to get the latest news of the changes. You can find these lenders in your yellow pages. Words of wisdom: Do not go more than 40% of your gross income into debt.

What do you think? Answer below!