DEBT TO INCOME RATIO
FHA is 29% for housing and 41% for total debt including the housing
VA is 41% for total debt including the housing
Conventional is 36% total debt including the housing
Income of $45,000/year = $45,000 divided by 12 months = $3,750 X 41% = $1,537.50 Maximum monthly debt including the PITI
Maximum monthly debt less all revolving or installment loans on the credit report equals the Maximum housing payment (PITI)
All loan programs are run through an automated underwriting system. Therefore, certain factors may offset or compensate for higher ratios than the guidelines permit.