Jumbo CalPERS Mortgages will review your income for a few different reasons.
Following are some of the most basic guidelines for CalPERS jumbo mortgages.
Also, the amount of your “Gross Income” will determine the amount of loan you qualify for by calculating your “Ratios”. These ratios are broken into two different categories:
The minimum monthly bills that are considered are the following:
The front end ratio should typically not exceed 28% of your gross income and the back end ratio should not exceed 36% of your gross income. These are only guidelines and may be exceeded dependant on overall strength of file.
(Following you will find an excel spread sheet calculator that you can download to calculate your estimate ratios. Please feel free to share this calculator, with family, friends, and work associates.