Pre Qualification Worksheet

Gross Monthly Income (A)	$
Mortgage Obligation Principle & Interest Taxes Insurance Mortgage Insurance Association Dues
Total Mortgage Payment (B)	$
Recurring Monthly Debts Car Payments Credit Cards Child Support Payments Installment Loans Other Debts Total Debt (C)	$
Total of Mortgage Payment and Monthly Debt (D)	$

Front Ratio: Total of (B) - Total Mortgage Payment - divided by (A) - Gross Monthly Income - should not exceed 28% for conventional and 29% FHA.

Back Ratio: Total of (D) - Housing Payment and Monthly Debt - divided by (A) - Gross Monthly Income - should not exceed 36% for conventional and 41% for FHA and VA.

** Note: VA works from a single ratio, which is the Back Ratio.

Conventional Ratios 28/36	FHA Ratios 29/41	VA Ratio 41

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