I know that typically the ratios are 28%/36%, but I’ve heard that lenders in California offers higher ratios due to the higher cost of housing. Do California lenders use higher front-end and back-end ratios when giving out mortgages?
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May
May
What are the maximum front-end and back-end ratios for home loans in California?
Posted by Admin in Monday, May 17th 2010 1 comment so far
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It actually has nothing to do with the lender per say.
The ratios will be decided by the AUS or automated underwriting system.
If you have higher credit scores and maybe more in reserves or for a down payment this will offset the risk of higher ratios.
I have seen FHA loans approved with ratios as high as 54%.