Finance
A Kentucky borrower's debt-to-income ratio is too high for conventional financing. Options may include:
AOnly to reduce the loan amount
BPaying down debts, making a larger down payment, or seeking FHA financing with higher DTI limits✓ Correct
CReporting the lender to KREC
DOnly waiting 12 months and reapplying
Explanation
Strategies to address an elevated DTI include paying down existing debts, making a larger down payment (reducing the loan amount), increasing income, or applying for loan programs with more flexible DTI requirements (such as FHA).
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