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Home > Answers > Q&A Archives > Loans > Conventional LoansMay 11th, 2021

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1.

Q. Are the qualifying ratios still 28/36? I know that ratios much higher than this are approved. Is this solely due to the compensating factors? Should I use something other than 28/36 in today's market to qualify borrowers?

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Loans : Conventional Loans

2.

Q. I have a borrower that owns his own consulting company for 1 year, and also draws a regular paycheck. I want to send him through an "A" lender as a full doc. If the address of the company is different than his primary residence, can I get around calling him "self-employed"?
Is the address of the company and his address the primary concern?


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Loans : Conventional Loans

3.

Q. Does PMI count for Tax deductible? For 5% down borrower, if some of the fund came from gift, what will be required for that proof? Any seasoning issue?

Besides, how we better advise them to go - 80/15 COMBO or 95% one loan? Thanks.

Chien

Category/Sub-Category

Loans : Conventional Loans

4.

Q. The product chart on page 19 of the Top Producer manual indicates -0- reserves and 40-40% debt ratios for the Freddie Gold program. The Freddie web page shows 1 mo reserves and debt ratios of 38-40%. Do you have the most recent information for the items on this page. Also, is the Community Home Buyer program still an active program?


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Loans : Conventional Loans

5.

Q. Do you know of any lenders for the state of Pennsylvania who allow a 4 month unemployment job gap with or without collecting unemployment?


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Loans : Conventional Loans

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