|
|
QUALIFYING RATIOS
|
|
|
Calculations that are used in determining whether a borrower
can qualify for a mortgage. There are two ratios. The "top"
or "front" ratio is a calculation of the borrower's monthly
housing costs (principle, taxes, insurance, mortgage
insurance, homeowner's association fees) as a percentage of
monthly income. The "back" or "bottom" ratio includes
housing costs as will as all other monthly debt.
|
|
|
|
BACK TO GLOSSARY |
|
| |
|
|
|
|
 |
|
Simplicity
Mortgage -
6180 E. State Street, Suite 5 - Rockford,
IL 61108
|
| |
|
|
|
|
|
|
