My FICO, DTI and LTV...
will determine whether I get my interest only loan for my cash flow property this year.
FICO, I have previously explained.
DTI is Debt-to-Income ratio. Basically it is the minimum amount of all payments you must make every month divided by your monthly income. The qualifications will vary, but over forty-five percent and you will be hard pressed.
LTV is Loan-to-Value ratio. This is simple. It is the percentage of the value of the property that you borrow. Borrow 80,000 of 100,000 and your LTV is 80%. This is where FICO is important.
Own your FICO.
Doug
FICO, I have previously explained.
DTI is Debt-to-Income ratio. Basically it is the minimum amount of all payments you must make every month divided by your monthly income. The qualifications will vary, but over forty-five percent and you will be hard pressed.
LTV is Loan-to-Value ratio. This is simple. It is the percentage of the value of the property that you borrow. Borrow 80,000 of 100,000 and your LTV is 80%. This is where FICO is important.
Own your FICO.
Doug
Labels: DTI, fico, LTV, Real estate
posted by Doug Delaney at
6:30 PM
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