Finance
A South Carolina buyer's debt-to-income ratio is 45%. Most conventional lenders will:
AApprove the loan without question
BLikely decline or require compensating factors since standard DTI limit is 43%✓ Correct
CRequire double the down payment
DAutomatically approve it under FHA guidelines
Explanation
Most conventional loans require a maximum DTI of 43%. A 45% DTI may result in denial or require compensating factors (large down payment, excellent credit, reserves) for approval.
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