Florida VA Benefits for FL Veterans. This page is devoted to benefits available to Florida veterans from the Florida Department of Veterans Affairs (FDVA). If you are looking for information on VA compensation and/or pension in FL I have a separate page on that subject.
Conventional Loan Debt-to-Income Ratios. Generally, the maximum debt-to-income ratio (DTI) for a conventional loan is 43%. However, exceptions can be made for DTIs as high as 50% with strong compensating factors like high credit and/or lots of cash reserves.
If your current loan requires PMI and a new one would not, and if you also qualify for a lower interest rate, a refinance will probably make sense. For example, letâs say your current loan requires a loan to value ratio of 70% before you can stop paying PMI and your current loan to value ratio is 75%. If your credit has improved since you applied for the original mortgage, you may be able to refinance into a new mortgage where the threshold for PMI is 80%.