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DTI Ratios: What Arizona Homeowners Need to Know

[Arizona]Homeowners need to know that their DTI ratios are crucial to determining an affordable house payment. The current government plan defines an affordable house payment as one that is no higher than 31% of the homeowner’s front-end DTI. In other words, the house payment or PITIA (principal, interest, taxes, insurance, and any association fees) on the first mortgage cannot exceed 31% of the... [Read more]

Details of the Housing Affordability and Stability Plan

While interest rates have been at levels not seen in generations, not everyone has been able to benefit. As home values have come down across the country millions of homeowners have been unable to refinance. When applying for a home loan, one key component in underwriting is the amount of equity or down payment in the transaction. As home values have declined, even in some cases where someone put... [Read more]