 Why rent?..still does not make sense, ...? |
| even though being a 'renter' is less responsability you NEVER finish paying the landlord. Of course being a home owner, you pay property taxes and insurance...but you get to write it off ... |
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 Seller wants to stay past closing date... how much to charge? |
| I know it is mainly an individual's choice on how much to charge if the person you are buying a house from puts in a request to remain in the house a few days longer. I would just like to hear ... |
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 I own a house with my boyfriend and i want out of the house and the relationship. Can i sign the house over? |
| i am 24 yrs old and my boyfriend and i bought a house together 18 months ago and now i want out of the relationship. With the market how it is right now it is almost impossible to sell. I want out ... |
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 I need to break my lease!! how can i do that?? |
| Im in a lease at my apartments but the crime is getting real bad. my car got broken into and one of my good friends got raped near where i stay. there has been a big rise in crime since i have lived ... |
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 Refinancing with poor credit? |
| I am in an adjustable rate morgage, I have been for 3 years now. It is a 80/20 loan. Paid 115 and it similiar homes are going in the high 130 or low 140. My credit scores are 559 at low and 585 at ... |
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 How does a foreclosure affect a co-signer? |
Hi,
I was just curious of how you can save yourself, as a cosigner, from a foreclosure?
Does anyone have any idea?
Thank you very much.... |
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 Landlord/realty ignoring phone calls for maintenance requests. What to do? |
| What can be done if the landlord who is actually a realty is ignoring phone calls and voice messages left to them? There were more than four instances within the span of 6 days and they won't ... |
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 If you were facing foreclosure, what would you do? |
| Would you use Google to find a company to save your house or sell your house to? Is there a particular site you would go to?... |
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 I bidded on a house and now I cant afford it what do i do? |
| The other day I went to an auction and bidded 20000 over budget. The real estate person was really hassling me and I dont know why but I paid to much. I have not signed anything and I have not paid a ... |
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 Mortgage ? |
Can I cosign on a mortgage when I have no credit? As in no bad credit, no good credit?
Additional Details
I would be cosigner. Hubby is the major bread winner.
I have never ... |
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 Rent increases? |
| My landlord increased my rent twice already, once every 6 months since I moved to my apartment. Now they want to increase the late charges from $50 to $100! a couple of months ago we got a letter ... |
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 When a tenant gives 'written notice' when wanting to terminate a rental agreement. Does by email count? |
| We want to move out asap. The contract states 1 months written notice (nothing about it being signed). I emailed about 2 weeks ago, can I now write a signed letter and back date it?... |
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 Is there a sales tax on buying real estate? |
| If you buy a house, do you need to pay a sales tax on top of everything else?... |
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 I want to refinacne my mortgage in CA, are you a loan officer? |
| I got a 7% F mortgage for 15 years and i want to refinance it because i want to take out cashout of 90000 out of my equity of $250000. My credit score right now is 692. I want to contact some good ... |
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 Can a landlord raise the rent any amount he wants in a private house? |
| So far he has tried to raise my rent 100 every year since I moved in! I have no lease but isn't there some kind of guideline he must follow as a landlord?... |
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baebeecakes | Home Buying for the first time..? |
I take home $45,000 a year and have a student loan of $30,000 to pay off. My monthly payment for it is $340. What is my debt to income ratio? Will it be held against me?
Additional Details
I only want to know what I debt to income ratio is. |
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Catherine J
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This is how you figure out DTI (debt to income). Take your total monthly gross income. Take your total monthly debt and divide it by your monthly income. For example: $45,000 / 12mths = $3750. Monthly debt is $340. Your DTI is 9.067%. That is good. You want your DTI to be under 50% for full doc and 45% for stated. 50% DTI gives you $1875-$340= $1535 in housing expenses you can afford. This would include your mortgage payment, insurance and property taxes. Some lenders will allow you 55% DTI.
I hope this helps. If you need any assistance you can contact me. |
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loancareer
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Based on your info your DTI is 11.029%. You are not taking into consideration many factors fir the whole picture though.
As your request I'm going to stop here. Seems that was all you wanted eh? |
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Gerald
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Since your in college and cannot figure the ratio. Go to a mortage lender and let them figure out exactly how much you can spend for a home. Then you can start shopping in your target price range... This analysis is free.
Other things are also used -- credit card --- car payment--- Student loans --- any creditors you did not pay...
The absolute persons to talk to are at the Mortage Lender...Go to the office -- on line won't work this time... too much money involved... |
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Mike
 |
wow.... no one could answer your very simple question.
Your debt to income ratio is around 9%. |
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Patrick H
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DTI is the total minimum payments on all the accounts that appear on your credit report divided by your GROSS monthly income.
TAKE HOME $45k per year or GROSS salary is 45k per year? |
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Monika Wilson
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Are you working? How much is your monthly income? You will be able to get a loan if your monthly income is high enough to make your monthly payments (student loans and credit cards) plus the mortgage payment and still have enough money left to make a living.
Wells Fargo has a good program specially for first time home buyers. You might want to contact an office close to you and talk to them. They helped one of my first time home buyer clients in a similar situation like yours and it was an easy going process. |
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jonas_grant
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Of course, all payments are held against you to some degree - that is, they all count in your ratios. Why pmt so high? Friend has $20K student loan, $136 month, 3% interest. Maybe consolidate, get that monthly payment and/or interest rate down? |
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Antonio Z
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Simply DTI is the amount of money you make before taxes minus the amount of money going out every month. You don't include living expenses ie...utilities, food, entertainment etc... |
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Laura Z
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One thing you may check into is consolidating. This would combine your student loan with the house payment. You may actually get alot smaller interest rate. |
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elims4ever
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Your monthly house payment (including PMI if needed) should be 28%-30% of your gross income. |
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Etta P
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Conventional loans (conforming) housing is 28%, total is 36%
FHA loans allow a 29% housing ratio and a 41% total DTI (debt to income) I have put a couple of website below that are worth researching to get more information
FYI: Lenders use your gross income (VA loans are the exception) if you are a veteran use the VA website below.
Hope they help! |
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