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High Front End Ratio for Conventional - Will I be okay???

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agekeith22
Valued Member

High Front End Ratio for Conventional - Will I be okay???

I am building a house and the ratios will end up being 35.5%/44.6% (front end/back end).  I am worried about the front end ratio being so high, I always thought it needed to be below 33%. 

 

The house is in Texas.

House Sales Price $432455

PITI Payment $3490

Middle Score is 789

Downpayment 10%

Reserves after downpayment $10k savings and $60k 401k (60% of that would be $36k)

Loan Type is 80/10 Piggyback with the 80% portion being a 30 year conventional.

 

I am starting to worry, any clarification or first hand experience with higher ratios is very much welcome.

 

Thanks!

Message 1 of 4
3 REPLIES 3
sports1965
Frequent Contributor

Re: High Front End Ratio for Conventional - Will I be okay???

Income?

Message 2 of 4
agekeith22
Valued Member

Re: High Front End Ratio for Conventional - Will I be okay???

Income is $118,000 base per year, or $9833.33 monthly.

 

i also get15% bonus, but do not have two years history of this at my current company.  The past two years, my bonuses averaged $20,000, but I worked at a different company, so am assuming they will not count.

Message 3 of 4
VanRickets
Established Member

Re: High Front End Ratio for Conventional - Will I be okay???

I thought the front end was a max of 28%.  

FICO 715 FAKO 739
Chase Freedom 14,500
Chase Slate 6,700
US Bank 14,500
Discover 15,000
Message 4 of 4
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