D2I ratio?

what is considered a good, an average, and a best debt to income ratio? what do banks and mortgage brokers look for?

36% is the standard d/i ratio lenders look for. some go up to 55% these days depending on what program you do.

thank you.

i have an other question:

usually what does a bank charge for doing a no closing cost HELOC? whats a common % ?


I’d say 8.5 to 9%

the bank i’m dealing with right now wants 2% of the whole credit line, just for doing the loan. are we talking about the same thing? is there a big difference maybe because of the location? i’m in new york.

I think one of you is talking closing cost/fees while the other is talking interest rate.

How big is the line and what rate were you offered?

I’ll PM you about that.