Mortgages, loans, financial matters

Conforming programs require the applicant to show sufficient income, fully documented and verified. If a homeowner or buyer has low documented income, a non-conforming program may be the only recourse. Some non-conforming programs allow for high debt-to-income ratios. For example, conforming programs limit total housing and long-term debts to only 36% of the borrower’s gross [...]

Many borrowers who normally qualify for conforming programs, opt for the higher loan-to-value (LTV) ratio limits of non-conforming loans. Higher LTV ratios mean higher loan amount limits. First of all, note that conforming loans have the following restrictively low LTV ratio limits for most of their loan programs: ● Single-family purchase or No-cash-out refinance: 90%-95% [...]