FHA – Installment Debt Calculation – Example: I’m confused by the FHA calculation to exclude installment debt of less than 10 months. Can you show me an example?

Answer: FHA buyers may be able to exclude debt where there is less than 10 mos. owed. Contact me for the specific rule and calculation. The guideline, which is included in the reference below, is referring to the monthly payment(s) of ALL liabilities that will be paid off within 10 months. Example: Payments on loans […]

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