Buying A Home
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Average DTI ratio?
We met with Ryan homes, our DTI w/Mortgage, Taxes PMI and Insurance plus our 1 outstnding debt our car loan comes in at 26%, he seemed shocked how low that was, we do not want to be house poor and this was even a little above our target zone. Interestinlgy he told us some people are approved at 50% DTI.
Just curious what others % is, apparently 36% is "normal"
Re: Average DTI ratio?
I just calculated ours - we'll be at 29% if we get a house near the top of our budget. I have a student loan and car loan, but Hub has neither which helps. His car is only three years old, so we think we're safe for another few years.
The cap on conventional is 45%. It IS possible to go up to 50% but you will need reserves (assets) as a compensating factor.
FHA varies - all your info is run through an automated system called Desktop Underwriter. It generally allows an approval up to the 50-55% range. It takes into consideration disposable income, FICO, stuff like that.