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good afternoon Myfico
Does anybody know what is max DTI for wells Fargo mortgage. Is it 43% or 45%?
let me know.. thanks
I was told by a Loan Officer face to face while I was aplying at wells fargo in her office that wells can go as high as %50. %50 quoted! She had mine at 31% even though I had it at 33%.
My loan officer said 45% for conventional but I think it goes a tad bit higher for FHA.
@Anonymous wrote:I was told by a Loan Officer face to face while I was aplying at wells fargo in her office that wells can go as high as %50. %50 quoted! She had mine at 31% even though I had it at 33%.
Yep and with higher scores above 680 some lenders will do 54% back end for FHA.
All I want is something comfortable and plenty money left over to do other things. My DTI right now is 33% but it will be less after I buy the house. PITI including HOA will be about 20% less than my rent. Then my car will be paid off in 7 more payments.
Thanks everyone for your reply.
I am working with my Broker who is getting me mortgage from Wells Fargo wholesale.
He told me the limit is 45%.
I just asked this becuase I am at 44.52% DTI.
Before you all kill me..let me tell you why..
I am applying for mortgage only under my name. Not including my Wife's income. Becuase he score is Low near 700. my score is 777.
if i count he income in DTI than DTI will be 37%.
So because I am at border.. I just wanted to ask you all experts..
my broker is telling me I am good till 44.99%.
Thanks
If you pass DU 50% is doable.
What is DU 50%???
ttt
I was told by a Loan Officer face to face while I was aplying at wells fargo in her office that wells can go as high as %50. %50 quoted! She had mine at 31% even though I had it at 33%.
Yep and with higher scores above 680 some lenders will do 54% back end for FHA.