Income To Debt Ratio

I was denied a loan since my income to debt ratio
was to high. I have FICO scores of 698 and above.
What loan company or hard money investor would
loan finances in this situation?
Thanks for your advice.

Kathy

Comments(3)

  • kbrogdon8th May, 2005

    Loon,

    When you purchased your first home, were you not concerned about how you would pay for unexpected
    expenses? I want so badly to purchase a home, but not having funds for expenses scares me. Your first property, was it for a rental or did you buy and resale?

    Kathy

  • InActive_Account10th May, 2005

    Do you know what your debt to income ratio is? I am not licensed in your state but I would be more than happy to give you a few pointers! Figure out all of your minimum payments and divide that number by your gross monthly income. Hard money is not your solution here, but understanding the loan process!

  • mojojojo_110th May, 2005

    unless you are border line (they look for 45%to 55% dti) stated is the way to go. You might be paying a quarter percent higher but, a lot less hassle

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