I am looking for a 50k mortgage with 10% down. My current DIR is high, but my credit is good.

Asked by Sunshine, 60435 Thu Feb 17, 2011

Once I move from my current home to the one I wish to purchase for 50K my DIR will be fine.

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3
Michael Cline, , Chicago, IL
Tue Feb 22, 2011
Sushine,

As long as you're selling your existing residence, then your DIR (debt-to-income ratio) will be less of an issue. If you are going to keep the home and rent it out, then there are seperate guidelines for converting a primary residence into a rental property. If you'd like more clarification, feel free to email me. Thanks and good luck!

Mike.
mcline@waterstonemortgage.com
0 votes
John Walin, Agent, Libertyville, IL
Thu Feb 17, 2011
What is a DIR? Do you need to sell sell your current home or are you renting?
0 votes
Linda Dressl…, Agent, Schaumburg, IL
Thu Feb 17, 2011
Try contacting Bradley Eggers at Ardain Mortgage: bradley.eggers@ardain.com.

Good Luck!
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