Unlike a financed car payment, an auto lease is not considered a standard closed-end type of installment loan. Therefore, it does not qualify for the omission from the DTI calculation.

Answer: [tweet-start]For FHA, auto leases are not considered a standard closed-end installment loan. Paying them off/early will not help DTI.[tweet-end] FHA doesn’t have a clear statement in their guidelines that auto leases cannot be excluded from the DTI if they are within 10 months of the ending contract date. However, auto leases aren’t considered a […]

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