Doreen Eubank is an Expert Realtor for the Metro Denver Colorado area, who can help you decide where to live.  Because, Doreen understands finding your special place means taking in many factors that include accessibility to work, education and recreational activities.  It also includes the size and style of your home, the style of the neighborhood that will make you feel more at home.  All of these factors must come together to make your new Metro Denver Colorado home, feel like home.

For a PERSON that wants a New Home and has GOOD CREDIT*, only EXPERT MORTGAGE LENDERS and EXPERT REALTORS with their Competitive Programs and Rates, will allow You to sleep with confidence while your HOME BUYING TRANSACTION IS BEING COMPLETED.

EXPLANATION OF THE "DEBT RATIO'S" PROGRAM

(FOR A CONVENTIONAL MORTGAGE PROGRAM ONLY)

A...MONTHLY HOUSING EXPENSE-TO-INCOME RATIO: To develop the monthly housing expense-to-income ratio, the lender must first determine the borrower's total monthly housing expense. Monthly housing expense is the sum of--

• the monthly principal and interest installment for the mortgage that is secured by the borrower's principal residence,

• escrow deposits for the hazard insurance premium, the real estate taxes, the mortgage insurance premium, any owners association dues,

• any payments required for subordinate financing.

The benchmark monthly housing expense-to-income ratio for conventional mortgages is 28% of the borrower's stable monthly income.

B....TOTAL OBLIGATIONS-TO-INCOME RATIO: To develop the total obligations-to-income ratio the lender must first determine the borrower's total obligations. Total obligations are the sum of:

• the monthly housing expense,

• monthly payments on installment and revolving debt that extend beyond ten months,

• monthly mortgage payments on any non-income producing real estate,

• monthly alimony, child support, maintenance payments, or child care on FHA and VA.

The benchmark total obligations-to-income ratio for conventional mortgage is 36% of the borrower's stable monthly income.

C....COMPENSATING FACTORS: A higher monthly housing expense-to-income ratio or a higher total obligations-to-income ratio (or both) may be acceptable for mortgages that have loan-to-value ratios of 90% or less, if the borrowers:

• are making a large down payment toward the purchase of the property;

• have a demonstrated ability to devote a greater portion of income to basic needs like housing expenses;

• have a demonstrated ability to accumulate savings and to maintain a good credit history or a debt-free position;

• have net worth substantial enough to evidence their ability to repay the mortgage.