diannw wrote:
Hi, this is my first time here and I have a serious problem. My credit score is seriously hurt by my debt-to-income ratio. . I have a mortgage of 140k and only about 3k in Credit cards. .my monthly payments with mortgage is only about 2k and my takehome is about 6k.. . I make about 120k/yr and yet my debt to income on Experians FICO is 90%!!!! What kind of math is that?? How/Where do they get my income to get the ratio?? HELP!
Welcome to the forums!
Where did you pull your info from?
Couple things:
Experian no longer offers reports via myFICO. In fact, it is impossible now for consumers to pull their EX FICO score (thanks to Experian, grrrr). However, lenders still have access to that info.
Also your income isn't part of your score. Your income isn't even reported on your CRs. FICO doesn't even factor in income into their score and DTI is certainly not part of that.
Now lenders do and will consider DTI, but that isn't part of your FICO score, that's based on the preference of the lender. Did you have a lender provide their own report showing DTI? CRAs including EX will factor into the report your monthly obligations, but not your income. You'd have to pull your EX report directly from EX to see if there is any account reporting a higher-than-usual monthly payment requirement.
