Question Details

J, Home Buyer in Elmont, NY

FHA Loan MAX PITI/DHI

Asked by J, Elmont, NY Fri Jan 14, 2011

1st time owner buyers looking in Connecticut
Me and My wife are trying to figure out what is the max Monthly payment we are Elig for.. My wife makes 95k, credit score over 750 and looking to put down 10% . My salary will not be included. I'm confused on the FHA guidlines with PITI and DTI .. what are the max #

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3
yes, but the piti is your payment with taxes and insurance. DTI is a percentage, it is the amount of monthly debt you have (on credit report) with you new house payment, divided by the monthly income you make.
0 votes Thank Flag Link Tue Nov 19, 2013
The PITI and DTI are a little above average but anything is possible. FHA is flexible with the loans they back in that if you have no credit they will use utility bills, past rent etc to determine your score. You need to go in and speak with a few lenders to get pre-approved that will be your greatest tool in finding out what you will be able to purchase.
Web Reference: http://www.coreyrowell.com
0 votes Thank Flag Link Fri Jan 14, 2011
better Question is considering the above mentioned illustration ... Will a FHI loan get approved with
41%PITI and 45%DTI
0 votes Thank Flag Link Fri Jan 14, 2011
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