Is my front end DTI too high?

[Anonymous]

Looking to buy our first home. My front end DTI is 41% for the home we're looking at. My back end is the same as I have no cc debt, no student loan debt or any debt at all. Would I possibly get approved for an FHA loan? 

[StartingOver10]

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@Anonymous wrote:

Looking to buy our first home. My front end DTI is 41% for the home we're looking at. My back end is the same as I have no cc debt, no student loan debt or any debt at all. Would I possibly get approved for an FHA loan? 

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Depends on the lender and your credit score and if you get a DU approval or manual approval. Some lenders will go to 46.99% IIRC on the front end.

[Anonymous]

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@StartingOver10 wrote:

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@Anonymous wrote:

Looking to buy our first home. My front end DTI is 41% for the home we're looking at. My back end is the same as I have no cc debt, no student loan debt or any debt at all. Would I possibly get approved for an FHA loan? 

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Depends on the lender and your credit score and if you get a DU approval or manual approval. Some lenders will go to 46.99% IIRC on the front end.

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45.99%, but close enough .

[Anonymous]

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@StartingOver10 wrote:

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@Anonymous wrote:

Looking to buy our first home. My front end DTI is 41% for the home we're looking at. My back end is the same as I have no cc debt, no student loan debt or any debt at all. Would I possibly get approved for an FHA loan? 

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Depends on the lender and your credit score and if you get a DU approval or manual approval. Some lenders will go to 46.99% IIRC on the front end.

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Thanks for the reply. Credit score is in the 620 range. We applied at Wells Fargo and are currently submitting all the paperwork.

[StartingOver10]

Wells Fargo may be much more conservative....translate that to mean their overlays could very well be much less than even your 41% on the front end. If I were you I would be on the lookout for other lenders....JMO

[Anonymous]

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@StartingOver10 wrote:

Wells Fargo may be much more conservative....translate that to mean their overlays could very well be much less than even your 41% on the front end. If I were you I would be on the lookout for other lenders....JMO

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That's what I've read about Wells Fargo. Thanks for the reply. My husband does odd-jobs but the income isn't documented so it looks like we can barely afford the mortgage when we really can. It's too bad, but I'll keep looking. Hopefully Wells Fargo will approve but if not, I'll need to have more lenders lined up.