Hi all,
If applying for a loan, what is proper way to handle income to service loan on an application? I’ve been told that my DTI ratio will include the whole mortgage payment as that’s obviously what’s reported on my credit report, but the reality is there are two incomes (wife and me) servicing that debt. Not accounting for the second income penalizes me materially in the DTI ratio. For a say an auto loan, should I be putting household income on the application? Or, would wife need to be joint applicant if I went that route? Or does it depend on lender.....?
Thx for feedback.
