Solution-Purchase and rate-term refinance eligibility

Purchase and rate-term refinance eligibility

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Reference no: EM133102851

Purchase and Rate & Term Refinance Eligibility:

90% LTV to $1,000,000 - (SFR only, min loan $150k, 700 credit score required, DTI may not exceed 43%, interest only not permitted)

85% LTV to $1,000,000 - (SFR only, min loan $150k ,680 credit score required)

80% LTV to $1,500,000 - (680 credit score required)

75% LTV to $2,000,000 - (680 credit score required)

Borrower is looking to purchase a SFD primary residence with an appraised value of $720,000 and sales price of $700,000. Borrower has a 758 FICO, earns $12,000 in total monthly income and has $2,000 p/month in total credit report debt.

Question:

What is the maximum loan amount the borrower can be approved for?

Based on said maximum loan amount, what is the maximum PITIA permissible?

Reference no: EM133102851

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Purchase and rate-term refinance eligibility

Reference no: EM133102851

Reference no: EM133102851

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