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.
Example: Jessie and Pat together earn $5,000 a month. Their total debt payments are $1,600 a month. Their debt-to-income ratio is 32 percent ($1,600 divided by $5,000). This ratio is one factor lenders use to decide whether a buyer can afford a mortgage payment.Generally, mortgage lenders prefer a debt-to-income ratio of 36 percent or less.In some situations, lenders will approve mortgages with higher debt-to-income ratios. Before you apply for a mortgage, make sure your credit is in good shape. Get your free credit score and report from myBankrate.his ratio is one factor lenders use to decide whether a buyer can afford a mortgage payment. Generally, mortgage lenders prefer a debt-to-income ratio of 36 percent or less. In some situations, lenders will approve mortgages with higher debt-to-income ratios.