Question about DTI and Second Homes

[movinonup79]

I will be moving for work across the country next year and am hoping to get a 2nd FHA loan.  I was just curious though, will the 2nd home/mortgage be in the back-end ratio?  Or are both mortgages considered in the front-end ratio?

Thanks!

[Anonymous]

I'm not positive, but I think I read here somewhere that you can't have 2 FHA loans at a time.

I'm also looking for a second mortgage, but was told that my first mortgage should count in the back end ratio because it's been almost 2 years since I lived there. If you've only just moved out, it might count in the front end. Best way to find out would be to talk to a loan officer at a bank you might want to apply at.

[movinonup79]

You can have 2 FHA if you are relocating for a job, larger family size, etc.  I don't know that I would go FHA when I move, but I was just wondering if I had 2 mortgages how they would be factored into the DTI - front end or back end.  I don't have any other debt than my car and maybe $50 credit cards, so if one mortgage went in the front end DTI and the other fell in the back that would probably work out for me.

[ShanetheMortgageMan]

All mortgage debt is included in the back end, as all debt is included in the back end.  Only the subject properties payment is included in the front end however.

[movinonup79]

Thanks Shane!  Just trying to figure all this out and plan for the future!  Your help is very much appreciated.

[ShanetheMortgageMan]

Welx!