What debt do you include in my debt to income ratio?
We include all items that show up on your credit report (Credit Cards, Installment Loans, Student Loans, all Mortgages, etc.). Additionally, we will include any alimony or child support you pay, as well as any other liens you are obligated on that do not show up in your credit report (co-signing a lease, etc.).
Related FAQs
- Why Update A Pre-Approval Letter?
- How do I update an expired pre-approval letter?
- I am retired and my income is from pension or social security. What will I need to provide?
- What if my credit score is too low?
- How do I dispute an item on my credit report?
- Will the inquiry about my credit affect my credit score?
- What is a credit score and how does it affect my application?
- What if my homeowner’s insurance is up for renewal?
- How do I complete the application if I was in school before obtaining my current job?
- Can I use my new job to qualify for a loan if I haven’t started it yet?
- How will rental income be verified?
- I have income from dividends and/or interest. What documents will I need to provide?
- Do I have to provide information about my child support, alimony or separate maintenance income?
- What happens after I apply?
- How will you verify income on a self-employed applicant?
- Will my second job income be considered?
- Will my overtime, commission, or bonus income be considered when evaluating my application?
- I have student loans that aren’t in repayment yet. Will those be counted in my debt to income ratio?
- Why do you need information about other properties I own?
- Is a gift from someone else an acceptable source of my down payment?
- What will be required if I withdraw money from a 401(K) account for my down payment?
- What if I’m not sure about the property value, sales price or amount I want to borrow?
- What do I do if I can’t retrieve or print out the electronic disclosures, or have some other problem with them?
- What are some tips for completing the online application?
- If my loan application isn’t pre-approved, does that mean you can’t provide me with financing?
- When will I hear from someone after my inquiry/application?