How do debt to income ratios (DTI ratio) really work for jumbo loans in NYC? I recall hearing from a mortgage banker friend that they have to keep jumbo loans on the books, i.e. these loans aren't conforming and can't be sold off and repackaged into mortgage backed securities.
So are big banks in NYC more lenient with jumbo loan borrowers? What exactly do they put into the DTI ratio here in New York City? Is there leeway to go closer to 50%? I know some banks won't even look at debt to income ratios if you have enough assets.
So are big banks in NYC more lenient with jumbo loan borrowers? What exactly do they put into the DTI ratio here in New York City? Is there leeway to go closer to 50%? I know some banks won't even look at debt to income ratios if you have enough assets.
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