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Rise Beyond Ratios and Build Your Dream Home with Dream Home Mortgage!

March 4, 2024blog0

Real Estate Challenges with Real World Problems!

The economic crisis and its adverse effects on the financial situation of the commoner are inevitable! With the rise in inflation rates worldwide, the Real estate industry also took a dip, for becoming a homeowner seemed far-fetched where meeting staple expenses became the only priority. The millennials often argue about how the Boomers were all so well settled financially and had things come their way more easily. It’s all supported by facts and figures, as the interest rates were significantly lower, and the cost of living was much more manageable than the wallet-friendly prices.

The challenges with the current state of the economy came with its fair share of hindrances on the path to becoming homeowners. Your credit score is highly affected by your existing debts and repayments, and this can push you back in line to secure a loan to buy a home. However, with every problem, there is a solution. Mortgage lenders were a blessing in disguise for the dreamers and helped them pave the way to fulfill their dreams!

What is the DTI Ratio?

DTI ratio is the Debt to Income ratio, and to simplify it further, we will call it your ability to pay off the debts from your gross income after deducting your current debt repayments. To secure a reasonable mortgage payment, mortgage lenders require you to meet specific criteria regarding documentation and your credit score to ascertain your credibility. Debt to Income Ratio plays a vital role in calculating your credit score; the Higher your Debt-income ratio is, the more risk is involved for the lender, creating uncertainty about the borrower’s ability to repay on time. The mortgage lenders understandably prefer borrowers with minimum pending debts for an added security blanket! While this may seem like a setback, there’s a solution and your way around. High DTI Lenders specialize in creating the perfect mortgage plan to secure loans that won’t break your bank!

Debt to Income Ratio Calculator: Calculating Debt to Income Ratio depends on your gross monthly income and your monthly debt payments. Divide your monthly debt payments by your gross monthly income to calculate your DTI Ratio via the mortgage calculator.

See what you qualify for


Beat the odds and embrace your Dream Home with Dream Home Mortgage:

Where there’s a will, there’s a way! The Mortgage Lenders are not giving up on you; you shouldn’t give up on your dream, either! Working tirelessly to bring your vision to life, Dream Home Mortgage specializes in High DTI lenders that can bridge the gap and bring you one step closer to changing your dreams into reality! Dream Home Mortgage facilitates borrowers with a debt-to-income ratio of up to 60%. As you reach out to Dream Home Mortgage for High DTI Mortgage Lenders, you can seek expert guidance about loan options that suit you the best! Dream Home Mortgage crafts the perfect personalized plan for your financial constraints. Explore options like FHA loans and Conventional Loans that get you a step closer to your dreams!

Secure FHA Loans with High DTI Ratio:

FHA loans are a win-win situation for the borrowers and lenders! FHA loans are popular among lenders and borrowers as the risk factor involved in these loans is restricted as they are backed and insured by the government! FHA loans particularly have much more convenient guidelines and restrictions for application. It not only facilitates low credit scores but also opens doors to financial freedom for borrowers with low amounts of down payment. FHA loans allow you to refinance or build your credit and let you set your repayment time up to 30 years! Qualifying for an FHA loan is more accessible, but with the challenge of a high-income ratio, choose lenders that specialize in getting you the best deals, like High DTI Mortgage Program by Dream Home Mortgage.

A high DTI can limit your loan amount but makes up for the financial backset in more ways than one can imagine! Dream Home Mortgage allows you to secure FHA loans with a debt-to-income ratio as high as 57%! That’s not the only perk you are getting when you secure the best FHA loans with High DTI mortgage lenders; with Dream Home Mortgage, you can get a head start with a down payment as low as 3.5%! Contact the best team at Dream Home Mortgage to have a tailor-made plan to fit your budget and fulfill your dreams.

Get approved to see what you can afford.

Dream Home Mortgage® lets you do it all online.

Pre-Qualify Now

Conventional Loans with high DTI Ratio:

Good news for all the aspirers who have decided to become homeowners despite their high DTI challenges! Dream Home Mortgage lenders allow you to take control of your financial freedom with an option to pick from FHA loans or Conventional Loans. If you are willing to go big and need a more significant loan amount than that restricted by the FHA loan, then Conventional Loans are the way to go! Conventional Loans come with their share of pros and cons. Conventional Loans are not insured or backed by the government; therefore, the risks are higher. Private lenders usually approve these loans; the restrictions are generally higher than FHA loans. Conventional Loans are a cap that covers all the loans that the government doesn’t back.

Typically, conventional loans contain a high-risk factor for lenders, so there are more restrictions and strict qualifying guidelines. Conventional loan lenders look for financially stable borrowers with a good credit history and low Debt to Income ratio to eliminate the chances of bad debts and non-payments. However, Dream Home Mortgage is your dream team for a reason! The Dream Home Mortgage team’s High DTI mortgage lenders go the extra mile to ensure you get the loan amount and terms you aim to secure. Dream Home Mortgage expedites your journey of conventional loans with a high DTI ratio of up to 49.9%! Next time you wish to secure a conventional loan with any private mortgage lender but didn’t do so because of the hiccups you faced in your challenging financial crisis, let Dream Home Mortgage lenders ignite that willingness to take the leap of faith and invest in your future for High DTI Ratio doesn’t stop the Dream Mortgage team from succeeding in life!

high DTI mortgage lenders

Why is Dream Home Mortgage the ideal Mortgage lender for a High DTI Ratio?

With the apparent risks involved in High DTI Ratio lending, mortgage consultants often hesitate to secure your ideal mortgage plan! Dream Home Mortgage believes in you and your dreams! Your dreams are way too precious to be shattered because of the world’s economic crisis. Helping you streamline your application and get the best interest rates and lowest down payment plans, whether with FHA loans or conventional loans, Dream Home Mortgage comes up with the best solutions. With a license in all 50 states, Dream Home Mortgage understands the highs and lows of the Real Estate world. The constant rise in inflation is a testament to the fact that real estate prices are not getting lower anytime soon, and the surge in property rents will be a constant factor. The sooner you realize you need to make up for the previous high DTI hiccups, the earlier you will get to rebuild your credit and gain financial freedom with a secure future for your family. Dream Home Mortgage’s high DTI mortgage lenders are at your service to streamline the process of purchasing your own home. Get in touch with the lenders, get yourself pre-qualified, and ask away any questions that come to your mind. The cherry point for Dream Home Mortgage is the transparent communication and willingness to dedicate their time to you and make your personalized plan! If you still need that nudge and want to research, check our loan options and calculate your credit score and mortgage.

Dream Home Mortgage is now your passport to the home of your dreams!

 

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