FHA Answer: Unfortunately, FHA does not allow for debt to be paid down to the 10-month payment level in order to exclude it from the DTI calculation. See the full guideline below. Reference: 4000.1, II, A, 4, b, iv (A) General Liabilities and Debts (TOTAL)The Mortgagee must determine the Borrower’s monthly liabilities by reviewing all debts […]
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