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Debt to income ratio (front end and back end)
Posted on 11/13/13 at 2:50 pm
Posted on 11/13/13 at 2:50 pm
Front end is monthly mortgage note divided by gross monthly income, back end is revolving debt divided by gross monthly income, is this correct?
Also, what is considered healthy for a loan. Front end % and back end %, 30, 40%?
Also, what is considered healthy for a loan. Front end % and back end %, 30, 40%?
1
Posted on 11/13/13 at 2:55 pm to Paul Allen
Depends on the down payment and whether it is conventional, FHA, VA or other financing. Back end as you put it is mortgage obligation plus all other monthly recurring debt.
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