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My husband is currently paying $500/month child support for his son. His son turns 18 in November of this year. Child support will end when he completes school in May of 2017. Any chance the mortgage company will take this into consideration when it comes to his DTI ratio? With less than a year left to pay, I don't see how it should hurt the potentional of paying a 30 year mortgage? Any insight?
can it be paid off early?
typically we only exclude insignificant payments($100 or less) when they have less than 10 payments.
500 can certainly affect your ability in the next several months