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If I put a higher percentage down payment, will the lender allow a higher debt ratio?

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October 02 2009 - Pinole
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things are tightening up, per fannie mae, in Dec, 45% max, with manuel exceptions to 50%. Manuel, means 1 out of 1oo apporved and not many UWer will risk thier neck on a manuel underwrite.

some other tricks, if you have higher credit card interest rates.
call up the creditor, ask if you premit auto debt from checking account if they will lower interest rate to something reasonable. i have seen 29% go to 12%. cutting huge a chunk out of monthly expenses.

alos,do not get over burdened, make sure your household income can afford the payments.

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October 05 2009
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you could pay down your debt... that should lower your debt ratio
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October 03 2009
If you put down a higher down payment, your debt ratio will go down. 
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October 02 2009
It used too be much more lenient.  The truth is regardless of what you put down if your Debt to Income is igh you will have trouble making the payments.  I have seen lenders tightening up on expnaded ratios and expect that to continue. 
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October 02 2009
 
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  • Asked by xixi456
  • In Mortgage
  • October 02 2009
Mortgage Rates
 
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