Florida VA Benefits for FL Veterans. This page is devoted to benefits available to Florida veterans from the Florida Department of Veterans Affairs (FDVA). If you are looking for information on VA compensation and/or pension in FL I have a separate page on that subject.
Conventional Loan Debt-to-Income Ratios. Generally, the maximum debt-to-income ratio (DTI) for a conventional loan is 43%. However, exceptions can be made for DTIs as high as 50% with strong compensating factors like high credit and/or lots of cash reserves.
For example, despite only requiring a five percent down payment, a minimum FICO score of 740 is needed and the DTI ratio canât exceed 35%. Additionally, borrowers need a full 24 months of reserves, or two years of mortgage payments on hand to qualify for the program.