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When does the change occur for DTI

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jwpezd
Regular Contributor

When does the change occur for DTI

Does anybody know when the DTI cutting for FHA change to 43% I am about six months away from trying and would like to know what to expect right now we are right at 48%
Chase Freedom-(1000) BOA 123-(2000) Home Depot-(4000)
Discover IT-(1000) Lowes GE-(1500) Orchard Bank-(300)
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In the garden till 4/01/2015
Message 1 of 4
3 REPLIES 3
tooleman694
Valued Contributor

Re: When does the change occur for DTI

Jan 2014..
Message 2 of 4
jwpezd
Regular Contributor

Re: When does the change occur for DTI

Oh wow I was under the impression it was immediate. Thank you.
Chase Freedom-(1000) BOA 123-(2000) Home Depot-(4000)
Discover IT-(1000) Lowes GE-(1500) Orchard Bank-(300)
Regions Student Visa-(500) Best Buy Reward Zone-(500)
In the garden till 4/01/2015
Message 3 of 4
JM-AM
Valued Contributor

Re: When does the change occur for DTI

Banks and lenders can start implementing the change as soon as it goes into effect.

 

But they have until Jan 2014 to be in compliance.

Good Luck
May all your dreams and wishes become a reality!
Message 4 of 4
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