Debt Ratios and Home Loan Modification
Loan Modification Debt Ratio Calculations

Debt and Home Loan Modification


Your overall debt is a major consideration for a home mortgage loan modification.  Home mortgage lenders need to see that your debt is too high for your current income.  All of your expenses will need to be listed in complete detail......EVERYTHING you have to pay on a monthly basis, even gas and repairs for your car.  Whatever you're paying for should be listed for consideration of your expenses.  


The financial information regarding your income and expenses is the most important information that the lender will be looking at.  The lender will make calculations to see what your current debt ratio is and they will make a new calculation to see what your debt ratio would be if the loan is modified.  


How to calculate your debt to income ratios.
The formula to calculate debt ratios considered by your lender are as follows:

Current DTI Ratio = (Mortgage Payment + Taxes + Homeowners Insurance) ÷ Gross Income If the Current DTI Ratio is above 45% than your likelihood of completing a loan modification is good.   If you have no income or very little income, then your Current DTI Ratio might be extremely high and it would make sense for the bank to pursue other options like foreclosure.


Proposed DTI Ratio = (Mortgage Payment + Taxes + Homeowners Insurance) ÷ Gross Income The guidelines for the proposed DTI ratio differ according to each bank but your proposed ratio should be between 31% and 45%. IndyMac Bank is looking to modify homeowners to a 38% ratio. Bank of America is looking to modify homeowners to a ratio of 34%.


If your rate is about to adjust, calculate your future DTI ratio. Again, if the ratio is above 45% than your likelihood of completing a loan modification is good. Some lender’s may require you to be late while others may perform the loan modification before you become late. The DTI ratios are a good rule of thumb when formulating your loan modification case but there are other points to also consider:


Lifestyle expenses
The bank is going to look at your specific expenses. If you are looking for a reduction in your loan but have a lot of “luxurious” expenses, than the bank will take that into consideration. The bank may want the “luxurious” expenses applied towards the loan payments. So, make sure you have eliminated all those unnecessary expenses in your life.

They will look at your total expenses vs. your total income. If your total income is greater than your total expenses than they might ask you to take the difference and apply it towards your loan payment.

With all things considered, always remember, the loss mitigation department will try to minimize their losses. They will find every excuse to make sure you make the highest payment possible without you defaulting on the mortgage payment again.


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This website provides a free service to homeowners looking for loan modification help under government programs and is not a government website.
Free service for home loan modification is limited to information about home loan modification and free online analysis for home loan modification. Free online analysis for home mortgage loan modification to determine how much you could save.  Free information and service to qualify for loan modifications under the help for homeowners plan will help you learn about the loan modification programs available today. We are a fee based service but pre qualifying for loan modification is free.  It is a free loan modification analysis which can determine if  you can benefit with our loan modification service. Free loan modification services are available, read about Free loan modification services and programs here.  Guaranteed results with our loan modification service. When it comes to negotiating home mortgage rates for loan modifications we're experienced professionals . Due to the high volume of applications for home loan modification lenders are so busy that it can be almost impossible for a homeowner to get results on their own. Using a fee based service such as ours gives a tremendous benefit to homeowners seeking loan modifications. Many lenders have specialized representatives for loan modification companies such as ours.Enjoy lower monthly mortgage payments and lower home mortgage interest rate with loan modification.  Since we work with lenders on a regular basis, we are able to negotiate home mortgage loans to your best advantage. This means you have an increased chance to succeed with reducing home mortgage interest rate and payment by using our loan modification service.  Explore the possibilities of loan modification and see what the home loan modification program could do for you. Submit our online form for free analysis. It's just a few questions and only takes a minute. Be sure to provide correct information in your contact details and a representative will follow up on your mortgage loan modification analysis results.  When you have the results you can decide if it's worth it to you to proceed.  Experience tells us that you'll be happily surprised with the results from using our service for your loan modification. With the lower interest rate programs available  you can't wait another day. We do not give legal advice, contact an attorney if you  need legal assistance.




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Prior to the Obama Mortgage Plan, lending guidelines made it nearly impossible for struggling borrowers to access lower interest rates through refinancing and home mortgage loan modification was unheard of. The Obama Mortgage Plan has changed lender guidelines and provided incentives for lenders to refinance loans at low or no cost to borrowers. Homeowners  are encouraged to take advantage of the special refinance programs and home mortgage loan modification programs or other home loan modification plans offered under the  Obama Mortgage Plan.
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Home loan modification information about Determining Debt Ratios for Loan Modification Under the  Obama   Mortgage Loan Modification Plan.   Learn About Debt and Loan Modification Programs
Resources about home loan modification and information about calculating debt ratios for the mortgage loan modification programs. Information about  how debt affects loan modifications. Find out how to calculate debt ratios for loan modification.   Information about debt and loan modification programs...Help for homeowners and making homes affordable programs. What is the process for getting a loan modification? Learn Here. We help you to get it done.
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