So I'm going to be applying for a mortgage this spring, and had a question as it relates to my business credit card.
I currently am renting out my townhouse (and have been for almost two years). I have a sole proprietor set up and keep the books (expenses, etc.) separate. The TH more than pays for itself. I decided to get a business credit card a few months ago, and did a couple of projects at the TH financing it with the business card (15 mos 0% APR).
It does not currently appear on my personal credit report, and the balance is about $8500 ($15K credit line)
My question is...would the business card balance count against my DTI for the mortgage? Do I have an obligation to disclose this debt to the mortgage company even though it's a separate, self sustaining entity? Would they even know about it (since it appears only on business credit). Any help would be appreciated...
On a separate note, I was told that my townhouse will not count against my DTI because it's been rented out, is currently in the middle of an 18 month lease, and mortgage, HOA, insurance are less than what I receive every month for rent.
