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Your DTI Is High and It Will Be Alright
Your DTI Is High and It Will Be Alright
 
You might have been lured into reading this blog post under the false assumption that I'd be discussing the controversial subject of financing cannabis-related businesses and property.  Well, you can let that notion go up in smoke.  Instead, we're going to talk about the ways you can get a great jumbo mortgage in California if your debt-to-income ratio (also known as "DTI") is higher than Jeff Spicoli at 4:20pm.  OK, dude, not really, but we are going to address the ways you can get a decent home loan with a very competitive rate if your DTI exceeds 43% --- the maximum amount specified for a qualified mortgage, or "QM."  Let's get together and review a little background first.
 
Your debt-to-income ratio is determined by dividing your gross monthly income into your housing debt (we use the total monthly housing payment or "PITI") to determine the "front end" or "housing" ratio, and then we use gross income divided into your total obligations for your "back end" or "total" DTI.  Remember to let us do the calculations to precision, but certainly feel free to use these examples as a guide.  Let's say our borrower earns $10,000 gross ... more

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