cancel
Showing results for
Did you mean:

## 29/41

Auto Loans for ANY Credit Situation. Immediate Response.
Regular Contributor

## 29/41

if the front end ratio is piti (29) and the total is 41, what if you don't have any other debt can the total piti be 41%?
Message 1 of 5
4 REPLIES 4
Super Contributor

## Re: 29/41

it is 31/43 not 29/41. it was raised after the bush tax cuts.

if automated accepts you, it doesnt matter what the ratio is

Retired Lender
Message 2 of 5
Regular Contributor

## Re: 29/41

thanks for the clarification.
Message 3 of 5
Regular Contributor

## Re: 29/41

reading other posts it got a little confusing again. if your total debt is .02%(cc)  can your mortgage payment be 41% of your income? ex: your income is 2652 your mortgage payment is 1087 and your other debt is 55.

1087  + 55 = 1142 / 2652 = 43% (that's the best example i could come up with, hope it makes sense)

Message 4 of 5
Senior Contributor

## Re: 29/41

reading other posts it got a little confusing again. if your total debt is .02%(cc)  can your mortgage payment be 41% of your income? ex: your income is 2652 your mortgage payment is 1087 and your other debt is 55.

1087  + 55 = 1142 / 2652 = 43% (that's the best example i could come up with, hope it makes sense)

The quick and easy answer is no and yes...LOL.  Technically they want the ratios to be under what they set.  Otherwise what happens in 6 months when you need to buy a car or whatever or you max out your credit cards.  But, they will make exceptions for situations such as high reserves, high down payment, high FICO score (+700 or so I would guess)  It all depends upon the overall picture of the file.  They will usually want to see some of the above factors to allow someone to go all the way up to the limit on just the housing payment.

Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.