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My wife and I make 100k/year. Our DTI (w/rent) is 55%. Any chance of qualifying for a $150k loan?

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January 13 2011 - Reno
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You may want to look at putting less money down and paying off some debts that show on your credit report. Rent does not count against you if the home you are wanting to buy is your primary residence. If it is not going to be your primary residence then you may have some difficulties.
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January 14 2011
Assuming you are talking about buying a property to live in, your current rent has no relevance in your DTI.   It might be a factor if the program includes a payment shock guideline, but that is a different topic.

100K income should fit fine on 150K loan.   The only way it woudn't fit is if you have a very large monthly debt load of other expenses, and if this is the case, you should focus on reducing that before you purchase.
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January 14 2011

It is possible to qualify with a high debt ratio.  You should speak to an experienced loan consultant to work through the detials.  A detialed analysis of your credit, debt and income should not take very long.  I strongly suggest you also provide all of your income documentation so that you do not have any unforeseen challenges once you are in contract to purchase.

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January 14 2011

List the debts and amounts you are counting in the debt ratio

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January 13 2011
 
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