Recent changes to the PMI guidelines now require a borrower's total debt ratio to be no more than 41% of their income in order to qualify for a conventional loan with less than a 20% down payment. This was recently allowed to 45%. Buyers who plan to put down less than 20% will feel definitely feel this iimpact . If you were hoping to qualify for a conventional loan with less than 20% down, you should discuss your options with a qualified mortgage professional. These erquirements are for conventional loans only; FHA and VA currently do not have this restriction. (Provided by Scott Tucker, Coldwell Banker Home Loans.)