Unlimited DTI

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“Unlimited DTI” is a great program for retirees, borrowers who are taking time off between jobs, self-employed borrowers!

Max DTI (debt to income ratio) is 45% for most of the full doc programs, but this programs allow you to go unlimited DTI when you have enough reserve.

Simple calculation to see if you qualify or not.

Min. reserve = 9 months.

Assumes PITI (mortgage payment, property tax and home insurance) is $5,000. Each 1% extra DTI is equal to 10 months of reserve.

If DTI is 55% after reviewing income docs, then its 10% over, extra reserve will be $5,000x10x10=$500,000 + min. 9 months reserve ($45,000).

If DTI is 65% after reviewing income docs, then its 10% over, extra reserve will be $5,000x10x20=$1,000,000 + min. 9 months reserve ($45,000).

Specification:

Purchase and refinance (rate and term or cash out)
Primary only
Max 5m amount

The information provided above is a general overview and guidelines are subject to change at any time. For specific details, please get in touch with Junie without delay.

Contact Junie

General Mortgage Capital Corp- DRE# 01509029 & NMLS# 254895

Junie K Ngai – DRE# 01864306 & NMLS# 289291

Contact Junie

Figure: 7 TAC §81.200(c)

“CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE

BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.”

Interest rates and annual percentage rates (APRs) are based on current market rates, are for informational purposes only, are subject to change without notice and may be subject to pricing add-ons related to property type, loan amount, loan-to-value, credit score and other variables—call for details. This is not a credit decision or a commitment to lend. Depending on loan guidelines, mortgage insurance may be required. If mortgage insurance is required, the mortgage insurance premium could increase the APR and the monthly mortgage payment. Additional loan programs may be available. APR reflects the effective cost of your loan on a yearly basis, considering such items as interest, most closing costs, discount points (also referred to as “points”) and loan-origination fees. One point is 1% of the mortgage amount (e.g., $1,000 on a $100,000 loan). Your monthly payment is not based on APR, but instead on the interest rate on your note. Adjustable-rate mortgage (ARM) rates assume no increase in the financial index after the initial fixed period. ARM rates and monthly payments are subject to increase after the fixed period: ARMs assume 30-year term. General Mortgage Capital Corporation and eMeta Funding are licensed in the following state: Alabama – NMLS: 23260, Arkansas – NMLS: 129989, Arizona – NMLS: 1026178, California CFL – NMLS: 60DBO-66060, California DRE – NMLS: 01509029, Colorado – NMLS: 254895, Connecticut – NMLS: 254895, Delaware – NMLS: 038061, Florida – NMLS: MLD2191, Georgia – NMLS – 254895, Hawaii – NMLS: HI-254895, Idaho- NMLS: MBL-2080254895, Illinois – NMLS: MB.6761662, Indiana – NMLS: None, Iowa – NMLS: 2022-0038, Kansas- NMLS: MC.0025844, Kentucky – NMLS: MC782027, Louisiana – NMLS: 254895, Maryland – NMLS: 254895, Maine- NMLS: 254895, Massachusetts – NMLS: MC254895, Michigan – NMLS: FR0024243, Minnesota – NMLS: MO-MN-254895, Mississippi – NMLS:254895, Missouri – NMLS: 254895, Montana – NMLS: 254895, Nevada – NMLS: 5419, Nebraska – NMLS: 254895, New Hampshire – NMLS: 24850-MB, New Jersey – NMLS: 254895, New Mexico: NMLS – 254895: North Carolina – NMLS: L-208502, North Dakota – NMLS; MB104140, Oklahoma – NMLS: ML014608, Ohio – NMLS: RM.804881.000, Oregon – NMLS: 254895, Pennsylvania – NMLS: 96566, Rhode Island – NMLS: None, South Carolina – NMLS: 254895, Tennessee – NMLS: 254895, Texas – NMLS: 254895, Utah – NMLS: 12679832, Vermont – NMLS: LL-254895, Virginia – NMLS: MC-7314, Washington – NMLS: CL-254895, Washington DC – NMLS: MLB254895, West Virginia – NMLS: ML-254895, Wisconsin – NMLS: 254895BA, Wyoming – NMLS: 4763.