24% Debt to Income was too high for NVR?

[Anonymous]

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@Anonymous wrote:
You said 150,000 was combined income, what is your income alone?

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Mine alone is $65,500 in base salary, $10,000 in yearly bonus so $75,000.

[Anonymous]

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@Anonymous wrote:
Also is that 1900 including taxes, insurance and PMI? Or is that just principle and interest?

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That is including everything so yes taxes, insurance, and PMI.

[Anonymous]

I can't get off without refinanicng so that would hit us again with her scores being low for refinancing interest rates then if they do one of those oh we still can't approve you so you need to add your wife anyway we just made the car interest greater and still didn't get approved.

[Anonymous]

I am not a lender but here is what I have learned, our DTI for our loan type was 29/41. 29 front end and total debt load of 41%. Your gross is coming in at 5416 approx. without bonus pay which leaves a total of 2220. Available for all debt payments including mortgage. The bonus if they can use it gives you a slight bump but not enough likely to cover all the home and the car and whatever else they consider reoccurring. That is why they want her income or to lose her debt.

Your loan program may have higher DTI limits, I believe FHA does but that is before lender overlays.

[Anonymous]

Profgogetter- are you in a community property state?  i am alone  on our USDA loan because my wife's student Loan balance is too high. We are not in a community property state so they did not run anything of my wife at all.

[Anonymous]

Yes I am in Texas, which is community property.