Debt to Income

[mamahearts]

When I calculate my DTI do I include:

Rent

Preschool

Student Loan

Credit cards

and this? or do I leave this off?

Car Insurance

Phone bill

Gas bill

Electric bill

Thanks!

[BrianB_The_Loan_Professor]

Electric bill - NO

When I calculate my DTI do I include:

Rent - NO BUT YOU DO CALCULATE THE ANTICIPATED MORTGAGE

Preschool - NO

Student Loan - YES

Credit cards - YES

and this? or do I leave this off?

Car Insurance - OFF

Phone bill - OFF

Gas bill - OFF

MAINLY STUFF ON CREDIT REPORT

[mamahearts]

Thanks alot for your information, Brian!   I was nervous about the preschool tuition. 

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BrianB_The_Loan_Professor wrote:

Electric bill - NO

When I calculate my DTI do I include:

Rent - NO BUT YOU DO CALCULATE THE ANTICIPATED MORTGAGE

Preschool - NO

Student Loan - YES

Credit cards - YES

and this? or do I leave this off?

Car Insurance - OFF

Phone bill - OFF

Gas bill - OFF

MAINLY STUFF ON CREDIT REPORT

---

[Anonymous]

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@BrianB_The_Loan_Professor wrote:

Electric bill - NO

When I calculate my DTI do I include:

Student Loan - YES

Credit cards - YES

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What do you calculate when you calculate CC and SL's?  Balances?

[mamahearts]

If you're asking me and I'm including rent/cc/sl I'm getting about $950 and our gross monthly income is about $4600.   I think that's under the 36%.   

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@Anonymous wrote:

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@BrianB_The_Loan_Professor wrote:

Electric bill - NO

When I calculate my DTI do I include:

Student Loan - YES

Credit cards - YES

---

What do you calculate when you calculate CC and SL's?  Balances?

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[Anonymous]

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@mamahearts wrote:

If you're asking me and I'm including rent/cc/sl I'm getting about $950 and our gross monthly income is about $4600.   I think that's under the 36%.   

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Actually, I am more so asking the loan professionals here....

[mamahearts]

Ooops sorry!

Hopefully someone here can help. 

[BrianB_The_Loan_Professor]

Debt To Income = 

Gross Monthly divided by Minimum molnthly payments

[Anonymous]

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@mamahearts wrote:

Ooops sorry!

Hopefully someone here can help. 

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Yeah, I was just curious as the difference between a minimum amount, a current balance, and a limit could be hundreds or thousands of dollars difference.

[Anonymous]

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@BrianB_The_Loan_Professor wrote:

Debt To Income = 

Gross Monthly divided by Minimum molnthly payments

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Brian-

Now does that include cards that you dont even have a balance on?