When I say conservative I mean the MI companies for a long time wouldn’t give Mortgage Insurance coverage to an borrower with higher than a 45% debt to income ratio. (…and many still don’t!)
…Remember, if you are getting a conventional loan and your loan to value ratio is over 80% you will need Mortgage Insurance.
I wanted to let you know that I now have the ability to get Mortgage Insurance for your conventional loan if your debt to income ratio exceeds 45%!
…The key to exceeding this threshold is that I have to be able to get an automated approval on your loan at a higher debt to income ratio than 45%.
So, if you are in this situation let me run your file through the automated system and let’s see if we get an approval!
That’s it for today!
Have a good day today! …and thanks for reading.
Brett
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