Drama-free closings is our motto.
Count on us for all your residential lending needs. We are a DIRECT FLORIDA LENDER offering FHA/VA Loans to 500 Credit Scores • No Tax Return Loans • 90% Condo Financing • Jumbo Loans to $25MM
Bank Statement Programs and more!
Investor financing has never been easier!
With maximum financing options and stated income, we lend primarily on the strength of the investment property to optimize your cash-flow.
From 1-4 unit properties, to 5+ multifamily, we can place you in the right loan. Contact us today!
AREAS OF EXPERTISE
Use our Fast N' Easy calculator to see if you may qualify for an FHA loan.
*We also offer an array of other programs, including Conventional, VA, USDA, Private Loans, and Commercial Loans
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So now that you entered some information above and are looking at the final debt to income ratios - what does this all mean? Are you qualified? Maybe.
Debt to Income ratios (DTI, as they are referred to in our business) are used to measure an individual's ability to manage their monthly payments and to repay their debts. The higher the ratios, the more debt one is carrying month over month in relation to their overall income. All loan programs have a certain tolerance regarding debt to income ratios, and FHA is one program that is the most generous in this area for higher debt to income ratios, assuming other certain factors are in place.
The level of allowable ratios are primarily driven by the borrower's credit score and type of loan program. Typically, we like to see credit above 620 in order to reach a higher DTI allowed by FHA. It's not uncommon to approve an applicant with ratios of 46% / 56% - which is at its max for FHA. In addition, some investors, despite the borrower having a 620 score or higher, will have their own limitations of DTI acceptance.
At All Florida Home Loans, we have very deep relationships with secondary market investors, and we know who to approach for each individual loan scenario. In fact, we can offer FHA and VA loans down to a 500 credit score.
We also provide Conventional, VA & USDA loans, and Bank Statement Programs for the Self-Employed, and these loans also have their specific guidelines when it comes to allowable credit and DTI ranges. It's always best to contact us directly and discuss your particular loan needs.
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*The use of the calculator above is for informational purposes only. Results are not a guarantee to lend. All applicants must be formally vetted for loan approval.