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The Iowa Finance Authority (IFA) is pleased to announce that effective immediately, our debt-to-income (DTI) ratio will be expanded to 50% with an approve/eligible automated underwriting finding. Manual underwriting remains at 45% DTI.
- Approve/eligible – 50%
- Manual – 45% unless agency guidelines are less.
Lenders must follow the most restrictive guideline (lender, secondary market, or IFA guideline).
This change applies to both the FirstHome and Homes for Iowans programs.
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