Debt to Income Ratio

[Stefan Coles]

I am looking to buy my first property soon in SLC, Utah and have a potential issue that may prevent me from buying it.  I currently have a high debt to income ratio from a past marriage.  I know this is something that lenders look at when approving loans.  My concern is that I may not be approved for a loan from any lender because of this.  

Question is, has anyone with a high debt to income ratio been approved for a loan?  If so who was it through and how much of a hassle was it?  

Thanks in advance,

Stefan Coles

West Jordan, Utah

[Shaun Weekes]

@Xavier Maestas

@Stefan Coles

Conventional technically goes up to 49.9% and I have personally seen a loan fund at 48.7% back end.

Anything under 45% pretty much a lock if your C.I.A. (Credit, Income Assets) are solid. Over 45% your C.I.A. typically needs to be strong. But if you have a lower fico and high reserves this can help. They're millions of combinations so this is why it's really important that you stop trying to figure this out yourself and get a strong loan officer or broker to run the numbers through Fannie or Freddie's automated underwriter systems.

I hope this helps and have a good one all.