Debt-to-Income Ratio and Refinancing

Bills.com > Mortgage > Refinance > Refinance Answers > Debt-to-Income Ratio and Refinancing
READER QUESTION

Is there a bank that will refinance my house if I have a high debt-to-income ratio?

Read full question
Bills.com Resident Expert
Dec 12, 2011
BILL'S ANSWER

I cannot say for certain if there is a company that would be willing to refinance your home because you have not provided me with enough information about your situation. If you have tried multiple and reputable lenders, yet you keep getting the same result chances are that most lenders will not do the loan. The lenders see your debt-to-income ratio as too much of a risk, regardless of your credit history. Considering the amount of mortgages that have gone into default, and the amount of homes that have gone into foreclosure many of the lenders do not want to take on the risk of lending to someone with a high debt-to-income ratio.

I've written an article explaining why the debt-to-income ratio is important please see DTI: Debt-to-Income Ratio Information.

There are alternatives to consolidating your debt without utilizing the equity in your home. If you would like to find out more please see Debt Consolidation and Bill Consolidation.

I hope this information helps you Find. Learn & Save.

Best,

Bill

www.bills.com/

No Comments


Thanks for your feedback!

Get a Rate Quote

 
  • Articles
  • Ask Bill
  • Cash-Out Refinance

    Need Cash To Make Home Improvements or Pay For a Child'S Education? Consider a Cash-Out Refinance!

  • Government refinance

    Can you explain some of the government refinance and government purchase loan programs available?

  • Good Time to Refinance

    Is it a good idea to refinance my mortage as interest rates have come down rapidly from Oct'07?

  • Home Refinance Options

    Explore Your Options for Tapping Into Your Home Equity,Including a Cash-Out Home Refinance or HELOC.

  • No Cost Mortgage Refinancing Explained

    No Cost Mortgage Refinancing Tips and Advice So That You Can Get the Best Refinance Loan.

  • Important Mortgage Loan Terms

    Mortgage loan terms can quickly become confusing. Having a better understanding of the language and terminology involved with a mortgage loan will ease the entire process.

  • Wells Fargo Home Mortgage

    Wells Fargo Home Mortgage makes home-financing easy.

  • Buy a Home with an FHA loan

    Learn How An FHA-Insured Loan Can Benefit You, When You Are Looking to Buy a Home.

  • Bank of America Refinance

    Should I refinance my home with Bank of America?

  • Debt Consolidation

    Debt Consolidation and How to Consolidate Debt - Tips and Advice to Help You Make a Wise Decision.

  • Refinance My Home

    "Help Me Refinance My Home" -- What you need to know.

  • US Bank No Closing Cost Refinance

    Can I get a no closing cost refinance with US Bank if I'm a customer?

  • Debt Relief

    Debt Relief Options | Learn about and compare all debt relief options, including: Debt Consolidation, Credit Counseling, Debt Settlement and Debt Relief Consolidation Loans - Compare All of Your Debt Relief Options for free at Bills.com.

  • Fifth Third Bank Mortgage

    At Fifth Third, we work hard to be a successful, principled, involved financial institution that serves its customers and community. Since its beginning, Fifth Third has provided superior customer service and followed sound banking principles.

  • Washington Mutual

    Washington Mutual offers mortgage loans across the western United States. See how they are rated by Bills.com and by their own users.

  • Government Debt Relief

    What you need to know about Government Debt Relief and Grants.

  • US Bank Home Mortgage

    US Bank Mortgage is home of the Five Star Service Guarantee. See what Bills.com rated US Bank Mortgage, and add your own personal feedback and rating.

  • HSBC Mortgage

    HSBC Bank USA Inc. is one of the nation\'s 10 largest banks. HSBC Mortgage offers a full suite of mortgage and refinance loan products. Read what our users have said and how they rated HSBC Mortgage.

  • Bank of America Mortgage

    As one of the nation's mortgage leaders, Bank of America Mortgage maintains strong client relationships with responsiveness, innovation, and market knowledge. Bank of America offers a variety of loan products, including home purchase and refinance loans.

  • Debt to Income Ratio

    What is the maximum debt to income ratio one can have when getting a loan.

  • Credit Counseling

    Learn the Pros and Cons of Credit Counseling Services, and How to Make Credit Counseling Work For You.

  • Chase Mortgage

    Chase Mortgage is committed to building vibrant communities, preserving our environment and promoting an inclusive culture that benefits our shareholders, customers, employees, neighbors and future generations.

  • Consolidate Debt

    Consolidate Debt & Consolidate Bills: The Debt Tips You Need to Know.

  • PHH Mortgage

    PHH Mortgage is one of the top ten originators of retail residential mortgages in the United States. Their goal is to provide you with the superior service you deserve, guaranteed.

  • FICO Score Calculation

    How do I figure my FICO score?

Thank you for subscribing!