Debt-to-Income Ratio. At the time of origination of the Mortgage Loan, the ratio of the annual principal payments on the Mortgage Loan to the income of the Obligor(s) was not in excess of 50%.
Debt-to-Income Ratio. Each Mortgage Loan has a debt to income ratio of 60% or less. Each Mortgage Loan with an original principal balance of $1 million or more has a debt to income ratio of 50% or less;
Debt-to-Income Ratio. Applicants must have the ability to repay the loan. Applicants who have a debt to income ratio in excess of 55% will not be eligible for this loan program.
Debt-to-Income Ratio. An applicant’s debt to income ratio shall be determined by dividing the minimum monthly payment available from the applicant’s lender(s), that the applicant can acquire without penalty, by the monthly, pre-tax salary paid to the applicant by Employer.
Debt-to-Income Ratio. An applicant's debt to income ratio shall be determined by dividing the monthly childcare expenses (including for daycare, camps, afterschool programs, and other similar expenses) by the monthly, pre-tax salary paid to the applicant by Employer.
Debt-to-Income Ratio. In order to be eligible, mortgage applicants are required to have a 84 debt to income ratio of thirty-six percent (36%) or lowerthat is no greater than the ratio 85 determined by the the governing Oneida Land Commission resolution. The Comprehensive 86 Housing Division shall submit recommendations related to the debt to income ratio for the 87 Oneida Land Commission’s consideration, at a minimum, once every three (3) years. The debt 88 to income ration may not be amended except by Land Commission resolution. shall approve, by 89 written resolution, the applicable debt to income ratio for all mortgages offered by the 90 Comprehensive Housing Division annually no later than September 30th.
(a) Comprehensive Housing Division staff shall calculate the debt to income ratio by 92 dividing the mortgagor’s monthly debt by the mortgagor’s gross monthly income.
(b) For purposes of calculating income for the debt to income ratio, the Comprehensive 94 Housing Division staff:
95 (1) May not include child support payments;
96 (2) May not include education grants/scholarships; and
97 (3) Shall include per capita payments to the extent that receipt of per capita 98 payment may be verified for each of the five (5) years prior to mortgage 99 application. 100 (A) For per capita payments paid by the Nation, the Comprehensive 101 Housing Division staff shall verify with the Trust Enrollment Department 102 that the applicant received the full eligible amount of the per capita 103 payments for each of the five (5) years prior to mortgage application. 104 (B) For per capita payments paid by other tribes the Comprehensive 105 Housing Division staff shall verify that the applicant received per capita 106 payments for each of the five (5) years prior to mortgage application using 107 the applicant’s tax return. 108 (C) When per capita payments qualify to be considered as part of the 109 income calculation, Comprehensive Housing Division staff shall use an 110 average of the payments the applicant received for the five (5) years prior 111 to mortgage application.
Debt-to-Income Ratio. Each Mortgagor has a debt-to-income ratio of less than or equal to the amount set forth in the related Trade Confirmation;
Debt-to-Income Ratio. “DTI”): DTI is the ratio, expressed as a percentage, of (i) the amount of the monthly debt obligations (including the proposed new housing payment and related expenses such as property taxes and hazard insurance) over (ii) the mortgagor’s gross monthly income. No Mortgage Loans will have a DTI in excess of 55%.
