Debt ratio information

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Posted by toad on February 02, 1999 at 19:13:36:

I understand that most lenders utilize a 36% debt ratio to the gross income. Debt includes loans, property tax and home owners insurance. I was also told that some loan officers will increase the rate up to 40%. Is this true, and if so what will justify the increase to 40%. I want to buy the most house now so I am not moving again in the near future.

Thank you very much for an responses that increase my knowledge of the subject.


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