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.
The back-end ratio, also known as the debt-to-income ratio (DTI), calculates the percentage of your gross income required to cover your debts. Debts include your mortgage, credit card payments, child support and other loan payments. Most lenders recommend that your DTI does not exceed 36% of your gross income. To calculate your maximum monthly debt based on this ratio, multiply your gross income by 0.36 and divide by 12. For example, if you earn $100,000 per year, your maximum monthly debt expenses should not exceed $3,000.