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What are the general guidelines on Debt to Income ratios?

April 26, 2017debt guidelines income ratios

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What are the general guidelines on Debt to Income ratios?

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For conventional loans the mortgage payment should not exceed 28% of the gross monthly income. The total obligations should not exceed 36% of the gross monthly income. For FHA loans, the monthly payment should not exceed 29% of the gross monthly income, and the total obligations should not exceed 41% of the gross monthly income. For VA loans, the total obligations should not exceed 41% of the gross monthly income.