Back end ratio
Back end ratio
A ratio that indicates what portion of a person's monthly income goes toward paying debts—mortgage, credit cards, car payments, student loan. Traditionally, lenders were loath to extend borrowers' back-end ratios past 36 percent, but they often do now. Lenders use this ratio in tandem with the front end ratio to approve mortgages. This is also known as a debt to income ratio.
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National Rates
| Loan Type | Today |
|---|---|
| 30 yr fixed | 4.83 |
| 15 yr fixed | 4.39 |
| 5/1 ARM | 3.69 |
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