In March 2009, I blogged an update that Mortgage Insurance qualifying rules were tightening and that the maximum Debt-to-Income ratio (DTI) was decreasing from 55% to 41%.  Then in June 2009, the minimum credit score requirement changed from 700 to 720.

The credit score requirement has remained the same (and in some cases, depending on loan amount and property type, can require a 740 or 760), but the maximum DTI requirement has actually loosened up.  I don’t think we’ll be hitting 55% anytime soon, but the rule is now 45% max.  This little 4% increase can make a big difference.

Remember, any blog posts regarding current lending rules and guidelines are snapshots in time; they are constantly changing and are extremely dependent on many different factors.  For the most up-to-date and accurate information for you and your situation, call or email me.