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How to get a buyers Debt to Income (DTI) ratio below Fannie and Freddie’s guide lines at no risk. DTI is the ratio of monthly bills to monthly income and today anything higher than 45% won’t fly these days for qualifying.
Example $10,000 in household income means buyers has $4500 in gross income to qualify for a mortgage and other debts such as car payments, taxes, insurance, credit card debt, loans etc.
Instead of lowering the price of inventory not moving – lower the rate to help the buyer qualify and write it in the contract to protect all involved. Show your buyers how you’ll save them money over the years, show your Sellers how you are working with professionals to sell their listing.
I provide these reports as part of my business partnerships and they are online and shared with agents, sellers, buyers, CPA’s and Financial Advisors.
Steve Morgan
Fairfax Mortgage Investment
www.bethanybeachlender.com
302-541-5363
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