Does home equity loan affect debt to income ratio?

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Pat Predovic asked a question: Does home equity loan affect debt to income ratio?
Asked By: Pat Predovic
Date created: Tue, Jul 27, 2021 3:28 AM
Date updated: Fri, Sep 30, 2022 4:26 AM

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Your debt-to-income ratio

What debt-to-income ratio do lenders require? For a fixed-rate, fixed-term home equity loan, federal regulations set the limit at 43% DTI. With HELOCs, lenders have more discretion, meaning that you can shop around if your DTI is higher.

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