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Increased CC Debt while waiting on Mortgage

Valued Member

Increased CC Debt while waiting on Mortgage

So we are in a construction loan right now and should be finished in the next month. We won't have another closing, they will just roll it into a permanent loan. However, they will check our DTI and credit and pay stubs again just to ensure all is the same. We have accrued some CC debt and thus, increased our minimum CC payments. I know this will throw off our DTI, but we had significant pay raises recently (without changing jobs!) and so even with the increased minimum payments...our DTI is actually lower than it was before. 


We should still be good, right?

Message 1 of 2

Re: Increased CC Debt while waiting on Mortgage

Exactly as you said, your lender will update the debt and income numbers. They'll either order a credit supplement, which will reveal the new balances or obtain a new one. They will also update your income reflecting the increase. You will be fine.

The Federal Savings Bank / Member FDIC / Equal Housing Lender / Lending in all 50 States / 25 Years in the Mortgage Industry
Message 2 of 2
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