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Nov 16, 2019
7:16
:11
pm
Future_Tacos
All-American
Since you will never not pay taxes or insurance, I’d include them.
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Future_Tacos
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Bonemachine
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Future_Tacos
Joined
Feb 7, 2005
Last login
Apr 24, 2024
Total posts
11,207 (24 FO)
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Messages
Author
Time
When calculating debt to income, do you just include the mortgage?
Bleeding Blue
11/16/19 7:14pm
Since you will never not pay taxes or insurance, I’d include them.
Future_Tacos
11/16/19 7:16pm
But for the purposes of qualifying for a loan, which would they use
Bleeding Blue
11/16/19 7:16pm
$1300 + all other min monthly debt payments.
mulletino
11/16/19 7:16pm
so if I changed my mortgage to not include tax's and insruance, I would then use
Bleeding Blue
11/16/19 7:18pm
No, they'll count the full payment whether you have escrows or not.
mulletino
11/16/19 7:22pm
no, I am saying I tell my mortgage company to not include it in minimum payment
Bleeding Blue
11/16/19 7:50pm
They can't NOT include it in your DTI calcs whether it's included in your monthly payment or not.
mulletino
11/16/19 8:58pm
The underwriter and lending guidelines call the shots... not you.
1TruAggie
11/16/19 9:20pm
If there's an HOA fee, that's also included in housing expense, DTI calculation
1TruAggie
11/16/19 7:29pm
Yes - one of the components is the % ratio of house payment to income.
ClackamasCoug
11/17/19 1:23am
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