Finance
An Oklahoma buyer's debt-to-income ratio is 48%. A conventional lender with a maximum DTI of 43% would:
AApprove the loan with additional conditions
BLikely deny the loan unless the borrower qualifies under specific automated underwriting exceptions✓ Correct
CReduce the loan amount by 5%
DApprove the loan because Oklahoma has no state DTI limits
Explanation
With a DTI of 48% exceeding the conventional 43% maximum, the borrower would likely be denied unless automated underwriting systems (Fannie Mae's DU or Freddie Mac's LP) grant an exception based on compensating factors like high credit score or reserves.
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