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What is the recommended debt-to-income ratio for FHA loans?

April 26, 2017debt-to-income FHA fha loans LLC Loans Oregon ratio recommended tigard

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What is the recommended debt-to-income ratio for FHA loans?

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• The recommended debt-to-income ratio for a FHA can vary depending on credit. The normal guideline is that your total housing payment including principle, interest, mortgage insurance, taxes and homeowners insurance, should not exceed 31% of your gross monthly income. This guideline could be exceeded with good credit.Are FHA loans assumable? • Yes, you can assume an existing FHA loan or allow a buyer to assume yours.Will I have to pay mortgage insurance with an FHA loan? • Yes, however the monthly mortgage insurance cost is often less than that on most conventional loans.