Hi. I posted last month that we were starting the purchasing process, but haven't gotten very far due to a death in the family and some work travel. But we are back looking, even if trying to find a mortgage is making me feel ill (kinda like when we buy a new car - love to do it, enjoy the haggling, and then, the sickness feeling when we go to finance, and then poof, happy again when we have the keys in hand).
My newest question has to do with a joint account. We are only going to apply for the mortgage in my name but how do lenders look at a joint car loan when looking at monthly DTI? Do they split in half the amount of the montly car payment and only add that half to what my monthly payments are or would they look at me owing it as a whole.
The reason I ask is that when I refinanced one of our cars into my name for the cheaper interest rate, State Farm didn't look at me as paying full rent but only 1/2 since there were two of us and the same was with one of our other car payments. I hope this question makes sense.
