Finance
A New Mexico borrower has a 'debt-to-income ratio' (DTI) of 45%. Most conventional lenders prefer a DTI of no more than:
A55%
B50%
C43%✓ Correct
D60%
Explanation
Most conventional lenders and Fannie Mae/Freddie Mac guidelines prefer a DTI at or below 43-45%. The Consumer Financial Protection Bureau's Qualified Mortgage rule uses 43% as a benchmark.
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