Fannie Mae will allow a lender to ignore personal debt paid by a business IF the borrower meets certain requirements that involve proof of payment and cash flow. Contact us for more details.
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Answer: Technically, you do not need to count the debt provided you meet the guidelines I’ve highlighted below. Regarding the documentation, that decision will rest with the lender or underwriter because you are dealing with proving the business paid for the debt and cash flow on the company. To establish sufficient cash flow, a CPA […]