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Some lenders increase Debt-to-Income ratio to 60 percent

Wed Apr 16, 2008 11:04AM | By Tony

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In an effort to find borrowers who can pay their mortgage loans and will not walk away or get foreclosed, the debt to income ratio has gone up to 60% with certain lenders. To qualify you must at the very least supply pay stabs and have credit score in 700-plus range. Minimum 20% down payment or existing home equity as well as not being located in declining real estate market are must haves. The previous high for debt ratio was 55%. Note that this is back ratio where debt includes all the monthly expenses.

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