Question about Building a New House and Debt

[Anonymous]

We are considering building a house. My question is, if we pre-qualify in the next couple of months, will they look at all of our current debt NOW, or since the building process is 90-120 days, will they make exceptions if there will be less than 10 payments on a revolving line of credit at the timeframe of which we'd be closing? We have a auto lease that will be less than 10 months come August, but if we were to start building in May, our home may not be finished until August-October, upon which we'd be closing and I'm sure running our credit again, which would show the less than 10 payments remaining on our auto lease?

I'm not sure how that works, if there are conditions or what not? It will greatly affect our DTI.

Thanks!

[Anonymous]

they will count it towards DTI either way.

The whole thing with not counting payments with less than 10 pymnt left applies to payments less than $100 usually

[ShanetheMortgageMan]

Auto leases are included no matter what (doesn't matter if it's $1/mo and 1 month remaining), because when an auto lease ends you need to give the car back, and so you'd be down a car/needing another one which would likely have a similar payment.