Credit card debt , loan debt ( auto , home , etc ) are some of the usual components used in the debt/income ratio - would a monthly condo fee be counted as well or would it be thought of as a monthly utility bill which I believe isn't counted - are there some that I've missed ?
Thanks in advance for your thoughts .
Debt Components of Mortgage Ratio
Re: Debt Components of Mortgage Ratio
From the Fannie Mae website
https://selling-guide.fanniemae.com/Sel ... Obligation
edited to add the monthly guidance section specifically calls out HOa, etc
https://selling-guide.fanniemae.com/Sel ... 6-2020.htm
Your mortgage broker can tell you for certain
Mike
complete link belowmonthly payments for other recurring monthly obligations;
https://selling-guide.fanniemae.com/Sel ... Obligation
edited to add the monthly guidance section specifically calls out HOa, etc
https://selling-guide.fanniemae.com/Sel ... 6-2020.htm
Your mortgage broker can tell you for certain
Mike