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Back End DTI Question

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jetsfan2013
Frequent Contributor

Back End DTI Question

When calculating DTI, will the underwriter consider the new proposed payment of the loan (PITI) along with any HOA + mininum monthly payments to ensure it falls below 36% for the best possible rate?

Ch 13 Filed - October 2023
Last Payment - September 2028
Discharge - November 2028?
FICO 8 Scores as of May 2024
EQ 650 EX 625 TU 613
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ShanetheMortgageMan
Super Contributor

Re: Back End DTI Question

Yes, the DTI includes the new mortgage payment (P&I, taxes, insurance, HOA dues) & all of your other monthly debt payments (credit cards, student loans, personal loans, car loans, other mortgages, etc.).  It doesn't need to be below 36% though, that is from 20+ years ago.

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