Code of Massachusetts Regulations
761 CMR - MASSACHUSETTS HOME MORTGAGE FINANCE AGENCY
Title 761 CMR 21.00 - Seller's Guide
GENERAL
Section 21.41 - Monthly Housing Expense-to-Income Ratio
Universal Citation: 761 CMR 21.00 MA Code of Regs 21.41
Current through Register 1531, September 27, 2024
MHMFA will normally require that monthly housing (expense (mortgage payments plus escrow payments) not exceed approximately 25% of Borrower's "stable monthly income" (as defined in 761 CMR 21.43) . If Borrower is purchasing a condominium or PUD unit, the monthly condominium or Planned Unit Development fee (homeowners association dues) for common elements/charges must be included in the monthly housing expense when calculating the above ratio.
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