The underwriter and lending guidelines call the shots... not you.

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Nov 16, 2019
9:20:34pm

1TruAggie 3rd String

The underwriter and lending guidelines call the shots... not you.

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1TruAggie

Bio page: 1TruAggie
Joined: Nov 8, 2006
Last login: Mar 16, 2023
Total posts: 261 (3 FO)

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Messages

Author

Time

When calculating debt to income, do you just include the mortgage?

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

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

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

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.

11/17/19 1:23am

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