Payment-to-Income Ratio (Top)Calculated by dividing the total monthly primary residence payment by the total
gross monthly income. Please see the file’s occupancy type below for a description
on how the payment-to-income ratio is calculated.
| Occupancy Type | Calculation Method |
| Primary Residence | Total proposed monthly housing expense (subject property) divided by the total gross monthly income. |
Secondary Residence | Total present monthly housing expense (primary residence) divided by the total gross monthly income. |
| Investment Property | Total present monthly housing expense (primary residence) divided by the total gross monthly income. |
| Calculation | ||
| Primary Residence Monthly Payment (PITI)* | $856.12 | |
| Total Income | รท | $2,617.00 |
| Payment-to-Income Ratio | = | 32.714% |
*If the Payment-to-Income Qualifying Ratios are based upon a different
factor such as the Interest Only payment, then the above calculation may not be
correct. Instead, the payment used to qualify the loan divided by the income will
be used.
