High DTI with HARP 2.0

Yvette, have you contacted your current mortgage lender? they should be able to do a streamline refinacne which requires no income or assets.

DTI is a factor that has heavy consideration in determining your potential approval for a HARP 2.0 refinance... this isn't a HARP guidelines as it is general underwriting... you have to show the ability to make your payments and there are clearly defined ratios that are allowable...WilliamAcres.com

Hi Yvette...as mentioned you do need to qualify...HARP does allow for higher ratios...Best advice is feel free to contact me for a no obligation mortgage review and I canadvise you of your options.. 877-369-4319 Regards Dan

I have heard that Freddie Mac loans will not get approved if the credit card debt is over 50% of the available credit. Seemed to work for me. I had a client pay down a couple of balances to get his overall balances below 50% of his credit lines and we got an approval. Also improved his credit score by about 15 points. Good luck, hope you find a local mortgage professional who can help you - or at least put together a plan that will help you get your ducks in a row for a refinance down the road.

the combination of 680 scores high credit blalcnes and 65% dti does not long good for you I have heard of DTI's as high as 63% going thru but there other factors were slightly better...Good luck the only shot you have is paying down some debt first then waiting a couple months to refresh credit report try to keep balances under 40% or go to your servicer and they might be able to do a manual underwrite

How certain are you of your DTI being 65%. Where did you get this info? Do you have a current credit report that verifies your debt? How long were you not working full tme? How long have you been in the same line of work? What is your current mortgage payment and what do you think it would be if you could refinance? These questions, and more, need to be answered to accurately determine your mortgage situation. Give me a call 16/7, or email me, and I'll be happy to discuss it with you. To learn more about me and our mortgage brokerage, click on my picture. When the next page pops up, click on "Website" and you will be redirected to ours. We work exclusively in CA and get loans done fast, typically in less than 30 days, at low interest rates and costs. Representing 39 quality lenders that offer more than 1,000 loan programs, we definitely have something for everybody.

I am having the same difficulty. My lender Nationstar told me that if it wasn't for my high DTI of 53% then I would be approved for my loan-Freddie Mac. My LTV is above 125LTV, they said around 130LTV. I have a high credit score, all in the 700's. Do you know of any lenders that would help with high DTI? I have never been late!