![]() The qualifying payment amount if the subject loan is for a second home or investment property (see B3-6-04, Qualifying Payment Requirements) If the subject loan is a second home or investment property, use the mortgage payment (including HOA fees and subordinate lien payments) or rental payments (see B3-6-05, Monthly Debt Obligations If there is a non-occupant borrower, use the mortgage payment (including HOA fees and subordinate lien payments) or rental payments (see B3-6-05, Monthly Debt Obligations) If the subject loan is the borrower’s principal residence, use the PITIA and qualifying payment amount (see B3-6-03, Monthly Housing Expense for the Subject Property) The housing payment for each borrower’s principal residence ![]() The total monthly obligation is the sum of the following: Government mortgage loans - lenders must follow the requirements for the respective government agency. Non-occupant borrowers - the maximum ratio is lower than 45% for the occupying borrower for manually underwritten loans (see B2-2-04, Guarantors, Co-Signers, or Non-Occupant Borrowers on the Subject Transaction) and ![]() High LTV refinance transactions - except for loans underwritten under the Alternative Qualification Path, there are no maximum DTI ratio requirements (see B5-7-01, High LTV Refinance Loan and Borrower Eligibility) īorrowers who do not have a credit score - the maximum ratio may be lower for manually underwritten loans and DU loan casefiles (see B3-5.4-01, Eligibility Requirements for Loans with Nontraditional Credit) Fannie Mae makes exceptions to the maximum allowable DTI ratios for particular mortgage transactions, including:Ĭash-out refinance transactions - the maximum ratio may be lower for loan casefiles underwritten through DU (see B2-1.3-03, Cash-Out Refinance Transactions)
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