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qualifying ratio |
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qualifying ratio The maximum ratio of debt to income that will still allow a borrower to qualify for a loan. Lenders use two different ratios.The front-end ratio compares housing costs to income.The back-end ratio compares all consumer debt to income. Each lender has its own preferred ratios, which are usually dictated by demands placed by the secondary market or by loan guarantors such as the Veterans Administration.The numbers are not secret,but they change too often to include in a book.Be sure to ask a lender about its qualifying ratios and what exactly is included in the numbers. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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