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Call Michael Rodriguez at (831) 229-1116 and click on the "Apply" link below to complete a loan application.
Your monthly costs should not exceed 29% of your gross monthly income for a FHA Loan. Total housing costs often lumped together are referred to as PITI.
P = Principal
I = Interest
T = Taxes
I = Insurance
Monthly Income x .29 = Maximum PITI $3,000 x .29 = $870 Maximum PITI
Your total monthly costs, or debt to income (DTI) adding PITI and long-term debt like car loans or credit cards, should not exceed 41% of your gross monthly income.
Monthly Income x .41 = Maximum Total Monthly Costs $3,000 x .41 = $1230 $1,230 total - $870 PITI = $360 Allowed for Monthly Long Term Debt
FHA Loan ratios are more lenient than a typical conventional loan.
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Company NMLS 386508NMLS MLO License 384916 www.nmlsconsumeraccess.org
22581 Murietta Road Salinas, California 93908 Phone: (831) 229-1116Toll Free Efax: 1-855-543-5021 email@example.com
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