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Lenders use the frontend v ratia to compare a bonower's total monthly debt tepoyments (including the prospective loan's prti payment and any buto, credit card,

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Lenders use the frontend v ratia to compare a bonower's total monthly debt tepoyments (including the prospective loan's prti payment and any buto, credit card, oc other debt obligetions) to his or her gross (pre-tax) monthly locomo. For most repucable lenders, a ratio of or less is desirable, and accorising to current legistation, the ratio cannot exceed for a qualifiet mortyage. If you don't want the $15,000 of aditional savings avalabie from your fomily to affect your back-thd retio, then a lender may require: That you retuse the gif: or the loan of the money A gin lecter that says that the funos are truly a git to the borrower end are being distnouted from the borrower's own funds Thet the terms of the lasen be put in writing Nore of these, as this hip from yout femily will not affect yout badkend ratio It you naed to impruve your bsok ond ratio, you cant check all that mppy. Pay down or pay of your expting credit card dett stop paying your mudent loan Reduce the down poyment on your ned tome choose a home in a higher prike range Incresen your monthiy gross income Lenders use the ratio to compare a borrower's total monthly debt ropayments (ineluding the prospective loan's PrTt payment and any auto, undit card, of ather dect obligations) to his or her gross (ore tax) monthly income. For most ropueable lenders, a ratio of or less is sesirable, and according to current legsilation, the rotio cannot exceed for a qualified mortgage. U you dont want the $15,000 of acd tional stavings dvailsble tront your family to affect your back-end ratio, then a lender mav requiret That you refuse the giff or the losn of the msney A git. letter that ways that the funds are truly a gift to the borrower and are belag distnibuted from the bertower's own funds That the terms of the loon be put in writing None of theee, as this heip from your family will not atfoct your back-end ratio If you need to improve your back.nnd ratio, you can: cneck all that oppy!. Pay oown or pay of your existing credit card detr Step paying your student loon Reduce the down payment on your new tame Choose a home in a higher price range Increther your monthiv gross income Lenders we the ratia to compare a borrower's total monthly debt repayments (including the prosoective loan's fiti payment and any Euto, credt card, of ather deat obligetions) to his of her gross (pre-tax) monthy income. For most resuable lenders, a ratio at desizatile, and actording to cument lepislation, the retio cannot excend for a qualifiet mortgape. If you don't want the 315,000 of asd tional savings avaliable from your fomly to affecc your back-end rotio, then a lender may require: Thet you refute the git or the loan of the msoey A gitt letter that ays that the funcs are truly a gift to the borrower and are being distntuted from the borrower's oiet funds Thet the terms of the lone be put in witing None of these, as this help from your family will not affect your backend ratio If you naed to improve your back end ratic, you cant check all that apply. Poy down or nay eff your exsting credit cerc debt. stop prying vour student lanh Anduce the down payment on your new tome thoase a hame in a higher price range Thoreste your monthiy gross income

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