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Valued Member
Posts: 49
Registered: ‎07-07-2013
0

Back End DTI Ratio

Hello guys,

 

     So I recently found a property, was pre-approved through Chase, as I am an employee there. I found a property and they accepted my offer. I applied for a conventional loan, have 20% down, and the guy doing my stuff for my financing said I have an 80/20 chance of making it through underwriting because my back-end debt to income is at 43.5%. My question for you mortgage guru's out there is.....what are my chances of getting approved? They pulled a credit score of 762. Thanks!!!

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Valued Contributor
Posts: 1,381
Registered: ‎07-29-2008
0

Re: Back End DTI Ratio

The 43% rule is for files that do not get an automated approval - you should be fine unless they have established an overlay that requires all loans to be at or les than 43%?

 

I think you will be fine if not there are other banks that will do the loan for you

 

Brian

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Brian B The Loan Professor
Mortgage Banker Lending in all 50 states -
Super Contributor
Posts: 8,356
Registered: ‎09-28-2007
0

Re: Back End DTI Ratio

If the 43.5% backend ratio is the only "issue" then it should be a slam dunk.

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