Would a home lender approve a 35% front-end ratio for a mortgage loan in California?
Written By: aaren on November 10, 2009
2 Comments
I want to buy a condo, and with my low income (k) I am wondering if a lender would approve my required 35% front-end ratio for a mortgage. The condo is k, and I will be making a down payment of around k-20k. My credit score is 760-777. I have ZERO debt. Would lenders see me as reliable enough to give me a k loan with a 35% front-end ratio?
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Tags: Credit Score, fixed rate private student loan consolidation, home equity loan lowest rate, lenders, mortgage, zero debt
you should be able to get the loan.
BUT, you really CANNOT AFFORD THIS PLACE.
with a low income of 21%, your total housing ratio should only be 20% MAX.
You are setting yourself up for distress.
you have no worries this is a no brainer