The flyer mentions eligibility requirements for Debt-to-Income and Housing Expense ratios. What are these and how do I calculate them?

These ratios help make sure your monthly payments will be affordable.

• Debt-to-Income Ratio: This combines your future monthly house payment plus all of your other monthly debts (for example, minimum credit card payments, student loans, etc.), and compares it to your monthly pre-tax income. This should be 43% or less, though exceptions may apply with other factors.
• Housing Expense Ratio: This compares your future monthly housing costs (mortgage payment, interest, taxes, and insurance), to your monthly pre-tax income. Your total housing costs should not be more than 38% of your monthly income.

CEDP will work with you to calculate these ratios when applying.