Mortgage Risk Rating

Definition of "Mortgage risk rating"

Patty Bolin  real estate agent
Patty Bolin , Real Estate Agent CENTURY 21 ALLIANCE REALTY

The amount of inherent risk for a mortgage in granting a mortgage. An operating principle in mortgage risk rating is that the mortgage cannot exceed 2.5 times the mortgagor's annual income, only a maximum of 28% of the mortgagee's salary can be devoted to the mortgage payment, and total debt payments including the mortgage payment cannot exceed the mortgagee's salary by 33%.

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