Greg Rekitt with 2 pound yellow perch caught from Presque Isle Bay. Jim McCarthy with a perch taken on a jig while trolling a waterway in Wayne County. Joseph Getz of Nazareth displays a yellow perch caught while ice fishing at Mauch Chunk Lake, Carbon County. Walker Loveland Sr., Wallsville, caught this nice perch from a local pond in Lackawanna County.
DEFINITION of 'Housing Expense Ratio'. A ratio comparing housing expenses to before-tax income that is used by lenders to qualify borrowers for a mortgage. The housing expense measure includes mortgage principal, interest payments, property taxes, hazard insurance, mortgage insurance and association fees. The limit is generally 28%. It is sometimes referred to as the front ratio.
For first mortgage loans that are subject to subordinate financing, the lender must calculate the LTV ratio and the CLTV ratio. (For first mortgage loans that are subject to a HELOC, see B2-1.1-03, Home Equity Combined Loan-to-Value (HCLTV) Ratios.) The CLTV ratio is determined by dividing the sum of the items listed below by the lesser of the sales price or the appraised value of the property. the original loan amount of the first mortgage,