LOAN APPLICATION CENTER ABOUT US CONTACT US
Your monthly costs should not exceed 29% of your gross monthly income for a FHA Loan. Total housing costs often lumped together are referred to as PITI.
P = Principal
I = Interest
T = Taxes
I = Insurance
Monthly Income x .29 = Maximum PITI $3,000 x .29 = $870 Maximum PITI
Your total monthly costs, or debt to income (DTI) adding PITI and long-term debt like car loans or credit cards, should not exceed 41% of your gross monthly income.
Monthly Income x .41 = Maximum Total Monthly Costs $3,000 x .41 = $1230 $1,230 total - $870 PITI = $360 Allowed for Monthly Long Term Debt
FHA Loan ratios are more lenient than a typical conventional loan.
Pre-qualify for a loan in a few simple steps
Fill out your Secure Application
See what our clients are saying:
We've been helping customers afford the home of their dreams for many years and we love what we do.
Company NMLS: 1728466 www.nmlsconsumeraccess.org
6120 Paseo Del Norte Suite A-2 Carlsbad, California 92011 Phone: (760) 704-0037 firstname.lastname@example.org
Powered By LenderHomePage.com