Not only does Vintage Home Loan offer the same traditional mortgage lending options as our competition, but we have leapt into the future of mortgage lending by offering non traditional mortgages as well.
Not only does Vintage Home Loan offer the same traditional mortgage lending options as our competition, but we have leapt into the future of mortgage lending by offering non traditional mortgages as well.
Your monthly costs should not exceed 29% of your gross monthly income for a FHA Loan. Total housing costs often lumped together are referred to as PITI.
P = Principal
I = Interest
T = Taxes
I = Insurance
Examples:
Monthly Income x .29 = Maximum PITI
$3,000 x .29 = $870 Maximum PITI
Your total monthly costs, or debt to income (DTI) adding PITI and long-term debt like car loans or credit cards, should not exceed 41% of your gross monthly income.
Monthly Income x .41 = Maximum Total Monthly Costs
$3,000 x .41 = $1230
$1,230 total - $870 PITI = $360 Allowed for Monthly Long Term Debt
FHA Loan ratios are more lenient than a typical conventional loan.
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We've been helping customers afford the home of their dreams for many years and we love what we do.
Company NMLS: 1612458
www.nmlsconsumeraccess.org
Texas Recovery Fund Notice
10924 Grant Rd PMB #119
Houston TX 77070
Phone: 832-910-8991
loans@vintagehomeloan.com
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