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Q: What is the maximum debt to income ratios for a Freddie Mac loan?
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What is a LP Mortgage?

LP Stands for Loan Prospector, This is a full feedback Certificate , under Freddie Mac reflecting the borrowers eligibility or restrictions on a refi or purchase and debt to income ratios or type of mortgage to evalute borrowers ability to qualify for a loan under freddie Mac


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What is the maximum percentage of a borrower's income that can be used to make the monthly mortgage payment called?

Debt to income ratio


How does increased debt affect the debt ratio?

Your Debt/Income Ratio is simply your total monthly mortgage + installment + revolving debt payments divided by your total month gross income. eg. If your income is $4000 / month, your mortgage payment is $1000/mo, Auto loan is $500/mo, and total credit card minimum payments are another $500/mo, then your debt/income ratio is $2000 / $4000 = 0.5 (50%) In most cases mortgage lenders do not like debt ratios over 45%.


What is the maximum deduction from an employees wages for child support and debt garnishment?

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What is the Qualifying income to buy 1000000 home?

That question can not be answered without the overall expenses being outlined. When true debt-to-income ratios are calculated, they include all debt known to the lender from credit cards, auto loans, home insurance, home taxes...etc.


Can a 17 year old lease a car?

Leasing a car requires some form of a down payment up front, AND showing proof of adequate income levels, enough to satisfy the debt to income ratios.


Can you change your debt to income ratio?

Your debt-to-income ratio is your total monthly debt obligations divided by your total monthly income. Increase your income or lower your debt payments to have a more favorable debt-to-income ratio. How do the credit companies know your income?


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Maximum Mortgage What is your maximum mortgage? That largely depends on your income and current monthly debt payments. This calculator collects these important variables and determines your maximum monthly housing payment and the resulting mortgage amount.


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