What is the income guideline?

That depends on the loan type you are applying for. That being said the DTI has to be worked as we as the lender need to see the full income and any debts.

Mortgage loans today must be approved based on the ability to repay. (ATR). Different loans have different guidelines for income based on what is known as debt ratio. (DTI) this is a measurement of your verified income in proportion to your total revolving debts and the new mortgage payment. Generally your new mortgage payment (PITI) principle, interest, taxes, & insurance, plus your revolving debts, cannot exceed 41 to 43% of your monthly income. Some loans will allow a slightly higher ratio but typically 43% is the max.

Are you asking max income on a program,income documents needed or debt to income ratio?

You need to ask a more specific question to get a clear answer. Thanks for asking!

More info needed.. the income guidelines vary depending on the loan product your applying for and there's literally 30 pages for each type of loan, so without knowing what specifically you need to know regarding the guidelines, it's difficulty to zero in to answer your question.. For this reason, I suggest you contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347