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Registered
Join Date: Oct 2003
Location: Scottsdale,Az
Posts: 3,738
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Wells Fargo debt to ratio?
Does anyone know what the wellsfargo debt to ratio guide the underwrites use for a secured loan ?
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Frank 1980 SC Cab Conversion (sold) 1974 914 2.0 RIP rear ended Looking for a 996 Silver Cab 2002-2004 |
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05-03-2005, 04:03 PM
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Edministrator
Join Date: Aug 2003
Location: SF east bay
Posts: 24,797
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Prolly 50%
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05-03-2005, 04:04 PM
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Join Date: Aug 2002
Posts: 1,238
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If you're talking mortgages...it depends. They offer conforming prime and also "sub prime" products. If they take you on the prime side for the lowest possible rates the ratios may have to be as low as 35%, similar to what your local bank may require. If you go subprime or "Alta-A" as most lenders call it ...they will allow ratios as high as 50 and sometimes 55%. This all really depends on the individuals mid credit score, loan-to-value (LTV) etc, etc, etc.
If you're talkin other kinds of loans forget everything I just said cause I have no clue. Beer time. 
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Chaos, panic and disorder . . . my work here is done Current Stable: Maserati GranTurismo S Range Rover Autobiography Various Porsches ~ in pieces Last edited by johncj8989; 05-03-2005 at 07:52 PM.. |
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05-03-2005, 05:36 PM
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