are debts to be paid off within 9 months of closing considered in an fha loan?

[ChangiBear]

I have heard both yes and no.  Is it dependent upon the lender?

[rckstrscott]

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@ChangiBear wrote:

I have heard both yes and no.  Is it dependent upon the lender?

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Uhm...

Your quesiton is WAY to ambigious.

I paid off a tax lien, a judgment and several thousand of credit card debt within months of closing.

Exactly what kind of debt are you talking about?

[thankfulheart]

I was told installment accounts with 6 or fewer payments did not need to be included in DTI. I think it depends on the lender.

[rckstrscott]

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@thankfulheart wrote:

I was told installment accounts with 6 or fewer payments did not need to be included in DTI. I think it depends on the lender.

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AHH yes.. I was confused..

Depends on the lender.. mine actually was 10 months.. haha

[Anonymous]

I'm confused by this, are you asking if the debts have to be paid off 9 months before closing or after closing?

[rckstrscott]

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@Anonymous wrote:

I'm confused by this, are you asking if the debts have to be paid off 9 months before closing or after closing?

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I think OP was refering to, if you have a debt oblidation, like a car loan, and it is coming off in 9 months do you need to pay it off ahead of time to not have it factor into DTI

That is how I reread it at least

-scott

[ChangiBear]

Yes, lol, sorry...I meant: if I have 9 months left on a car payment at closing, will it be considered in my dti?

[rckstrscott]

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@ChangiBear wrote:

Yes, lol, sorry...I meant: if I have 9 months left on a car payment at closing, will it be considered in my dti?

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YMMV, but I think your lender will probably exclude it!

-scott