The different income/debt ratios on Conventional, FHA and VA Mortgage

<p>Conventional will allow up to 50% income-debt ratio, FHA is up to 55% and Va has gotten approvals for up to 59.5% income/debt ratio.<br/>you take the monthly mortgage payments, plus car payments, student loan payment and credit card payments and divide that into your gross monthly income. <br/>conventional allows up to 50%, FHA up to 55%, and Va can get approvals up to 59%<br/>Every loan is run through Du/LP and that is the decision maker based on all the variables of income, credit, funds available, etc,<br/>Conventional and FHA are at about the same payment if you are putting down the min down payment for each.<br/>Good information to have when purchasing a home<br/>tune in and learn more at <a href='https://www.ddamortgage.com/blog'>https://www.ddamortgage.com/blog</a><br/>Didier Malagies nmls#212566<br/>DDA Mortgage nmls#324329</p> <a rel="payment" href="http://www.ddamortgage.com/blog">Support the show</a>