Posted on: 19th Sep, 2010 12:06 am
I am trying to calculate my debt to income ratio with the DTI calculator, but do not know if I need to include the monthly property tax and insurance in the column of Monthly mortgage amount.
Thank you in advance for your help.
Thank you in advance for your help.
Hi iengchan1968,
Welcome to mortgagefit,
Simple answer to your question is 'Yes'.All the recurring monthly expenses has to be summed up while calculating debt to income ratio.So, including property tax,insurance,auto loan,student loan, credit card loan minimum due amount should be summed up in monthly recurring expenses and you can go ahead with DTI ratio.
Feel free to ask any further query.
DIPA
Welcome to mortgagefit,
Simple answer to your question is 'Yes'.All the recurring monthly expenses has to be summed up while calculating debt to income ratio.So, including property tax,insurance,auto loan,student loan, credit card loan minimum due amount should be summed up in monthly recurring expenses and you can go ahead with DTI ratio.
Feel free to ask any further query.
DIPA