Lenders that accept >50 DTI?

[Anonymous]

I have recently starting seeing articles and hearing people say that there are lenders who may accept up to 57% DTI if they have good credit and history. I'm at 30% front end and around 56%-57% back end, have a median score of 695,  and have no collections or bad remarks. I'm sure I'm borderline due to my DTI but does anyone know of some lenders who acccept higher DTI's? 

[kc0039]

A lot of us do originate loans that are up to 57% DTI

[me12345]

Yes, FHA and VA can go that high... But Conventional loans and USDA loans will not... If your DTI is that high plan on an FHA loan. 

Thanks, 

[kjade1030]

You also have to make sure you are using the correct rate and proposed mortgage payment when you are calculating that dti.  For example, if you don't have a house picked yet, what are you using as the taxes as an estimate ?  These things are really important to be super accurate on when you are 56-57 dti because a few bucks can kill your deal.  However, your lender will also tell you that you don't count payments for installment debts with less than 10 payments, you can often pay a small credit card to get your ratios in line as long as you do it before underwriting, and I know I personally have an insurance agent who crushes prices on insurance policies when I have a deal that is that tight, it just won't have all the bells and whistles.  (You can always add those things back after closing anyway!)  Make sure you are maximizing what you are using for income, and minimizing what you are counting for debt (within reason of course!)  I'd be happy to take a look if you have questions.  Just definitely make sure all those numbers are straight before you put in any offers, you don't want to get to underwriting and get denied because of miscalculated taxes or something else that could have been avoided!