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How much mortgage can I qualify?
#1
How much mortgage can I qualify is the answer most home buyers are concerned with. Mortgage lenders qualify each individual on how much mortgage they can qualify for based on the mortgage loan applicant's credit scores and debt to income ratios. If a mortgage loan borrower is applying for a conventional loan, the maximum debt to income ratio allowed on conventional loan programs is 45%. For FHA loan programs is different based on credit scores. If a mortgage loan applicant has credit scores below 620 FICO credit score, the maximum front end debt to income ratio is 31%. The maximum back end debt to income ratio for mortgage loan applicant with credit scores below 620 FICO is 43%. However, if the mortgage loan applicant has credit scores of 620 FICO or higher, then the front end debt to income ratio greatly expands to 46.9% and the back end debt to income ratios can go up as high as 56.9%. Here is an article on how much mortgage can I qualify:

http://gustancho.com/how-much-can-i-borrow/


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