What is the percentage use by the builders for debt ratio for approval ?

C

Captain

New member
I am trying to organize my finance and wanted to prepare for the builder pre -approved loan.  What are some of the banks that the builders use in Orchard Hills ?
Thanks ,
Cap
 
Don't quote me on this but I think if it's wells fargo as the builder lender, it's usually 45% dti max without an exception though they prefer to be below 43% DTI...I believe they can top at 48% dti or top tier credit or similar
 
IP uses Well Fargo and B of A. The New Home Co. uses Well Fargo.  Forgot what Shea Homes uses but I think they uses their own.

Are you getting ready for Padova?



 
Thank You everybody for the information. I used the affordable mortgage calculator on the Zillow and it appears that they use a lower DTI percentage . Yes , I am waiting for Pavoda but not too thrill about the floor plans . I am also interested in the adjacent lot with higher elevation ( unknown builder) . I am going to wait to see the prices of Pavoda and the actual lot size .
Thanks,
Cap
 
I wouldn't stress about the builder's lender's back-end DTI, which will be in the 40s. You don't want to be anywhere near 40% if you want to achieve anything other than having a nice house.
 
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