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Mortgage experts! Question on a joint (co-signed) loan and DTI

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pakman92
Established Contributor
‎03-22-2012 06:43 AM
‎03-22-2012 06:43 AM

Mortgage experts! Question on a joint (co-signed) loan and DTI

I'm planning on cosigning a auto loan for my wife.  Is there a chance that for DTI calculation, this may be double counted since it will show up on both my CR and hers?

My Starting Score: EQ: 691 (11/30/11) TU98: 726 (11/30/11)
My Current Score: EQ: 779 (04/22/13) TU08: 835 (06/03/13)
DW Starting Score: EQ: 742 (03/02/12) TU98: 748 (03/02/12)
DW Current Score: EQ: 784 (03/11/13) TU08: 775 (06/03/13)
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MBOhio2
Established Contributor
‎03-22-2012 06:54 AM
‎03-22-2012 06:54 AM

Re: Mortgage experts! Question on a joint (co-signed) loan and DTI

No, lenders are capable of identifying joint debts and only counting them once. For example, my husband and I have joint CC that shows up on both of our reports. Our LO was well aware that this was the same account.

Mid-2010 Starting Scores: FAKO EQ 476 FAKO EX 506 FICO TU98 575
July 2017 Current Scores: Approx 710 (waiting for official updates)
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