Can u include any expenses

Hi tawana,

While calculating your back end DTI ratio to qualify for a home loan, you can include your payment towards the mortgage plus all your monthly payments towards other debts. Other than homeowner's insurance, property taxes, homeowner's association dues, your payments towards all your debts appearing on your credit report will be included in the back end DTI ratio. However, your expenses towards other stuff like your monthly payment towards a local club membership, etc., will not be counted in your DTI ratio.

Your Principle, Interest, Taxes, and Insurance will be calculated as well as any debt that shows up on your credit report that is paid monthly. Also Alimony and Child support is incorporated as well.

Thank you so much. But utilities, food, medical expenses, child expenses and things of this nature can't be included then. Is that correct? Reason I am asking I need 2 apply for a modification due 2 medical problems that has had me out of work & still at least 1 more surgery this week. I was trying 2 c if I might qualify 4 the FHA Hamp

To Tawana,

The back-end ratio includes your monthly payments towards the mortgage as well as the payments you make towards the recurrent debts like credit cards, etc. As far as I'm aware of, food, medical expenses, etc. are not taken into account to determine your back-end ratio.