Financing in 02128>Question Details

D, Home Buyer in 02128

What is the debt ratio required for the tax credit loan program?

Asked by D, 02128 Thu Dec 10, 2009

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You can qualify for a loan with a debt ratio as high as 50%. Qualifying for the the tax credit has no bearing on what your debt ratio is. Simply if you can buy a home in the period outlined as a first homebuyer or an upgrader (within time constraints), you qualify.

Feel free to contact me if you have further questions.
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0 votes Thank Flag Link Thu Jan 14, 2010
Hi D, The ratios are built into all lender's approval systems. The ratio is dependent upon several factors: income, credit, assets, liabilities. The best step to take is to meet with a lender. I'm available to review and pre-approve your specific situation. Ann
0 votes Thank Flag Link Mon Dec 14, 2009
There are two debt ratios. There is the debt to income ratio and the housing ratios. If you would like me to tell you what your is I can help you. We will want you to be under 45% to start at a minimum. The goal is to get you to the lowest possible so you can become less risk to a lender!
Please feel free to ask me any questions.
Jenny Talasazan
You can find me in Google .
0 votes Thank Flag Link Thu Dec 10, 2009
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