Code of Massachusetts Regulations
761 CMR - MASSACHUSETTS HOME MORTGAGE FINANCE AGENCY
Title 761 CMR 21.00 - Seller's Guide
GENERAL
Section 21.42 - Monthly Debt Payment-to-Income Ratio
Universal Citation: 761 CMR 21.00 MA Code of Regs 21.42
Current through Register 1531, September 27, 2024
MHMFA will normally require that the total amount of monthly housing expense (referred to in 761 CMR 21.41) , plus all other monthly payments on all installment debts having remaining terms of more than 12 months do not exceed approximately 35% of Borrower's "stable monthly income." Alimony, child support and maintenance payments are considered long term monthly obligations, unless such obligations terminate in less that 12 months.
Disclaimer: These regulations may not be the most recent version. Massachusetts may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
