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.
The following calculations are used by most lenders as a guide to help determine the maximum you should spend on housing costs and overall debt levels: Gross Debt Service (GDS) Ratio. No more than 30% to 32% of your gross annual income should go to mortgage expenses-principal, interest, property taxes and heating costs (plus fees for condominium maintenance). Total Debt Service (TDS) Ratio. TDS evaluates the gross annual income needed for all debt payments-house, credit cards, personal loans and car loan. Depending on the lender, TDS payments should not exceed 37% to 40% of your gross annual income. The combined incomes for you and your spouse are usually considered, when determining this ratio.