Posted on: 22nd Nov, 2010 12:48 pm
When a mortgage lender is looking at your expenses vs your income. I know they look at all your debt such as monthly car loans, monthly credit card bill, school loans etc.. My question is do they look at your utilities,daycare food,phone bill etc etc.?? It seems like these are just daily living expenses and not actual debt so I just wanted to make sure that they do not use this when calculating the DTI..
Hi lgtzgtz!
Welcome to forums!
As far as I know, your daily expenses like utilities, daycare, food, phone bill, etc. won't be taken into consideration while calculating your debt to income ratio.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As far as I know, your daily expenses like utilities, daycare, food, phone bill, etc. won't be taken into consideration while calculating your debt to income ratio.
Feel free to ask if you've further queries.
Sussane
Daily expenses that are not included in the credit report are not included in the calculation of the debt ratio.
