Updated Maximum DTI for Credit Qualifying Loan Products

June 19, 2020

Overview

Effective immediately, the temporary maximum DTI limit of 55% for all credit qualifying products is rescinded.  The maximum permitted DTI stated in the product matrices applies.  This includes FHA, VA, USDA and Conventional products for both Manual and AUS Underwritten Loans.

Background

CMS previously announced temporary guidance in this Bulletin that the maximum permitted DTI was 55% for all credit qualifying products. Program guidelines were not updated due to being temporary guidance. CMS is rescinding this temporary policy.

Government Agency Approvals

FHA Non-Supervised Mortgagee Approval #:
24751-0000-5
VA Automatic Lender Approval #:
902324-00-00

Mortgagee/Loss Payee Clause

Carrington Mortgage Services LLC
ISAOA/ATIMA
P.O. Box 692408
San Antonio, TX 78269-2408

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This information is provided for your convenience and Carrington Mortgage Services, LLC makes no warranties concerning the accuracy or completeness of any of the information. This is not financial or legal advice and should not be taken as such. This information is for mortgage professionals only and is not intended for distribution to consumers.
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Government Agency Approval | FHA Non-Supervised Mortgage Approval #: 24751-0000-5 | VA Automatic Lender Approval #: 902324-00-00

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