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ADDI
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Combined Qualifying Ratio The acceptable combined housing and total debt-to-income ratio is 36%. An expanded combined ratio of 40% may be allowed with strong compensating factors such as good savings history, history of comparable rent expense, excellent credit history, good rent history, and stable employment. For borrowers with strong compensating factors and a median credit score of 720 or above, the combined ratio may be expanded up to a maximum of 45%. Loan requests with a combined ratio
below 30% will be approved on a case-by-case basis by the Community
Development Supervisor or designee. |
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