For additional info on Michigan Fha income and debt requirements call (248)-674-6450.
Income and debt ratios take on a sizable part in securing a Michigan FHA Loan. This happens to be the third video in a set of four covering the Michigan FHA home mortgage requirements. This particular brief video recording discusses the income and debt ratio requirements with respect to the Michigan FHA loan as compared with some other financing methods. Some of the vital aspects regarding Michigan FHA financing is the fact that debt ratios may be embellished to over and above 50 percent as well as a non-occupant co-borrower can possibly be added to the home mortgage so as to ensure the debt ratios acceptable.
To find out more regarding the Michigan FHA Loan guidelines people can surely watch all of the video clips here;
Part One - Michigan FHA Loan Credit Qualifications;
Part 2 - Michigan FHA Loan Down Payment Qualifications;
You may additionally be interested in this; http://hud.gov/fha
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Nevertheless, if you happen to have extra questions relating to Michigan first time home buyer programs, do not hesitate calling 248 674-6450 and we will do our best to address your questions promptly.