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  1. #1
    Registered User Pro Member

    Lender Says My Debt Ratios are Too High

    I have afforded a home before with the same debt ratios in the past so why am I not approved this time at a 45 debt ratio (per lender). What can I do as I like this home a lot?

  2. Lender Says My Debt Ratios are Too High
  3. #2
    Registered User Pro Member
    Another option for people with high debt ratios is the popular FHA loan. Although those now come with mortgage insurance for the life of the loan.

  4. #3
    I agree with Maria that an FHA loan is one possibility while adding a co-borrower to the initial loan request might help you too. Get in touch with a mortgage expert who can offer you a few choices.

  5. #4
    Registered User Enthusiast
    It sounds like you may be overloaded on debt which is not a good thing. Have you considered paying off some of your debts before proceeding with adding another debt of 20 to 30 years on a home loan?

  6. #5
    If you have a $1000 credit card that has more than $200 on the balance, you could be flagged as carrying too much debt on your accounts. Paying off as many balances as possible is a wise thing to do. At least now that you know the creditor thinks you have too much debt ratio, you can take the steps to correct the problem.
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