Impac allows them to document their income using 12 months of recent bank statements and to have
debt-to-income ratios as high as 50 percent.
Higher
debt-to-income ratios are associated with greater repayment challenges.
counties with the lowest
debt-to-income ratios, house prices didn't fall and the fall in consumption wasn't as dramatic.
In 2002/2003 they were offering loans in targeted zip codes that allowed people with subprime credit to obtain approval with 3 percent down with ridiculously high
debt-to-income ratios, at rates given to 'a' credit borrowers.
The lending community has made strides to improve its services and products in large part by lowering credit standards and raising allowable
debt-to-income ratios.
These loans have even higher
debt-to-income ratios than a typical high loan-to-value mortgage and a three-year subsidy buy-down that reduces the initial interest rate as much as 1.
Since 1990, the S&P 500 Index has appreciated nearly 3 1/2 times (4 1/2 times at its peak in late 2000), while average housing prices have almost doubled and continue to accelerate, in a recent speech, Federal Reserve Chairman Alan Greenspan said, "Despite the recent high
debt-to-income ratios .
Mortgage loans underwritten pursuant to the Expanded Underwriting Guidelines may have higher loan-to-value ratios, higher loan amounts, higher
debt-to-income ratios and different documentation requirements than those associated with the Standard Underwriting Guidelines.
NHS presently is receiving funds from the New York Mortgage Coalition, a group of 12 banks that has lowered down-payments to 5 percent, reduced points and application fees, expanded
debt-to-income ratios from the conventional 28 percent/36 percent to 33 percent/38 perc.
The AlterNet program was established primarily for the purchase of mortgage loans made to borrowers that may have imperfect credit histories, higher
debt-to-income ratios or mortgage loans that present certain other risks to investors.
Examples of reasons for exclusion from Residential Funding's other programs include, but are not limited to, higher
debt-to-income ratios or higher loan-to-value ratios.
Mortgage loans underwritten pursuant to the Expanded Underwriting Guidelines may have higher loan-to-value ratios (LTVs), higher loan amounts, higher
debt-to-income ratios and different documentation requirements than those associated with the Standard Underwriting Guidelines.
