Did you know that FHA will not count a debt with less than 10 months IF the cumulative payments of the remaining debt are equal to or less than 5% of the borrower’s gross monthly income?

Related Article Title: FHA – Second Home Debt: If a client has a second home that is less than 10 months before it is paid off, do I need to count that debt? Answer: FHA allows the exclusion of the mortgage payment on the second home from the DTI calculation IF the cumulative payments of all […]

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