Profile picture for wilma heaton

how to improve front to back ratios for home purchase?

I have  a middle score of 641, a guaranteed income of 1498 a mo. and two open accounts for a total of $126.00 due each month-the front to back ratios are not helping me acquire a loan of $100k-would it help to ask for a lower loan amount -$75k?
  • June 21 2011 - Springfield
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Answers (2)

Yes, it will help if you request a lower mortgage amount.  You may also look for areas with lower taxes and insurance payments, as that goes into your debt ratio.  Also, depending on the type of guaranteed income you have, that number may be increased if it is not taxable.  Contact a loan officer who will ask a lot of questions and guide you through the process.
  • May 09
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Profile picture for Ryan Mutchler
You can pay off your debt and make more money=)  It is the ratio of the money you make each month vs the money that you have to pay towards debt.  One has to go up or the other needs to go down.
  • May 08
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