What was your Debt-To-Income Ratio when you bought your house (primary residence)? And Question regard DTI. (loan, California)

[NARFALICIOUS]

Hello, what was your debt-to-income ratio when you bought your house?
Let's try to limit this to the last 10 years, or your most recent purchase.
Please post what year it was, and any other information you feel comfortable with.


Also, when looking for a house, if my girlfriend and I get a house together and we are both on named on the loan, will our debt-to-income ratio be measured together, like both our incomes and both our debts?

Thanks

[Pfhtex]

Also, when looking for a house, if my girlfriend and I get a house together and we are both on named on the loan, will our debt-to-income ratio be measured together, like both our incomes and both our debts?

What do you think?

[thelopez2]

Originally Posted by NARFALICIOUS

Hello, what was your debt-to-income ratio when you bought your house?
Let's try to limit this to the last 10 years, or your most recent purchase.
Please post what year it was, and any other information you feel comfortable with.


Also, when looking for a house, if my girlfriend and I get a house together and we are both on named on the loan, will our debt-to-income ratio be measured together, like both our incomes and both our debts?

Thanks

70% DTI, does it really matter. Don't compare yourself to others. The average DTI in coastal California would be total different then a suburb in TN. Work off of your budget , not a guideline from other people.

[NARFALICIOUS]

Originally Posted by Pfhtex

Also, when looking for a house, if my girlfriend and I get a house together and we are both on named on the loan, will our debt-to-income ratio be measured together, like both our incomes and both our debts?

What do you think?

I assume yes; I was looking for more if they are okay with 2 people, not married, on a mortgage.

[thelopez2]

Originally Posted by NARFALICIOUS

I assume yes; I was looking for more if they are okay with 2 people, not married, on a mortgage.

Yes it is okay for non married people to be on a loan together. You'll also need to do research on how to hold title.

[AmyTai]

Originally Posted by NARFALICIOUS

Hello, what was your debt-to-income ratio when you bought your house?
Let's try to limit this to the last 10 years, or your most recent purchase.
Please post what year it was, and any other information you feel comfortable with.


Also, when looking for a house, if my girlfriend and I get a house together and we are both on named on the loan, will our debt-to-income ratio be measured together, like both our incomes and both our debts?

Thanks

Depends on the lender. Some lender give higher ratio. Some lenders even accept up to 50%.
You and your girlfriend can buy house and apply mortgage together. That will help you to lower your ratio. means it will make you can afford.

[bavariantransplant]

DTI is really hard to compare.

Someone with a DTI of 60% whose household income is 150k is in a whole lot better position then someone whose DTI is 38% with a household income of 60k.

Someone with the above scenario whose household income is 150k and is 60% DTI has a remainder of 60k! The starting household income of the person who is 38% DTI with a household income of 60k.

[Kavalier]

Like 42%. But it's actually probably lower than that because I have some other kinds of revenue that weren't factored into it. I'm probably around 40%?


That's too high, I know, but I have an IRA and cash in my bank account if worst comes to worst.