Posted on: 04th Jul, 2009 11:09 am
My husband and I are waiting to hear back on approval for a mortgage. I am just wondering how striclty the DTI guidelines are followeed. My husband wil be getting a $4/hr raise before the closing date, and once tyhat happens our DTI will go WAY down, but right now it's at like 36.5%... I know most banks have a top DTI of 36%....
Everything else in our file is good, our credit scores are good, upper 600's to lower 700's.... (mid score is 691, which is what they are going by)
And we have $15,000 for a downpayment... so I'm just wondering if anyone thinks the bank will be that strict on their guidelines to turn us down for a being a couple bucks over on DTI....
Everything else in our file is good, our credit scores are good, upper 600's to lower 700's.... (mid score is 691, which is what they are going by)
And we have $15,000 for a downpayment... so I'm just wondering if anyone thinks the bank will be that strict on their guidelines to turn us down for a being a couple bucks over on DTI....
36.4% should not stand in your way. It is impossible for us to understand the rest of your qualifying attributes, but the DTI should not be a problem.
Meanwhile, if you have documentation from the employer verifying the increase in pay, then you should send that in.
Meanwhile, if you have documentation from the employer verifying the increase in pay, then you should send that in.