What was your FRONT DTI when you buy/bought a house?

[Anonymous]

Just curious!!!! i got pre approved at NFCU and I'm renting right now....If i get the house, my front end dti would be around 35%.....

[Anonymous]

Anyone?? i have zero debt

[Anonymous]

If you have zero debt I think you mean your front end is 0% and your back end is 35% with your mortgage,taxes,homeowners ins.and mortgage ins.if applicable.

[Anonymous]

My front end is 14% and my back end is 36% and that's on a $205k home.As of now we are due to close 3/31.

[StartingOver10]

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@Anonymous wrote:
If you have zero debt I think you mean your front end is 0% and your back end is 35% with your mortgage,taxes,homeowners ins.and mortgage ins.if applicable.

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No, you can not have a front end of zero if you are going for a mortgage.  The front end = housing ratio which is your principal, interest, real estate taxes, homeowners ins ad mortgage insurance + hoa if applicable.

The back end = total debt which is all of the above (your mortgage) + installment loans + student loans (if applicable) + revolving cc min payments

[Anonymous]

Yeah I see this was already discussed in a previous post.guess I was confused like others on how that works.

[Anonymous]

following

[Anonymous]

Front end was 28% and back end was 6%. (The only debt we had were 2 minimum payments on our only credit cards that are reporting a balance and a student loan that is $450 per month.)

[StartingOver10]

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@Anonymous wrote:

Front end was 28% and back end was 6%. (The only debt we had were 2 minimum payments on our only credit cards that are reporting a balance and a student loan that is $450 per month.)

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^^^The back end ratio is your total debt ratio which is your front end ratio (a/k/a housing ratio) plus your installment debt and revolving debt. 

So if your revolving debt and installment debt total is 6% for example add that six percent to your 28% front end ratio for a total debt ratio of 34%.

The back end ratio will either be equal to your front end ratio (if you have no debt other than the new mortgage you are getting) OR it will be larger. I can't be smaller than your front end ratio under any circumstances.

If we are all speaking the same math language it is easier to communicate about mortgage ratio guidelines

[Anonymous]

We have zero debt as well and were pre approved for 44 front end, so back end would be 44 as well. There were a couple exceptional circumstances (10% wage increase expected in May, another 5% in December). Just a pre approval though. We just put in a contract so we'll find out if it's actually approved in the next few weeks