Posted on: 03rd Apr, 2009 02:40 pm
wife wants to buy another house with the sister, wife is on title but not on the loan of their current house. Should a mortgage payment on their current house be included to calculate the dti ratio on this new house they're buying
Technically, her current home mortgage will not count against her. She will however, have to show the purchase with her sister as either a second home or as investment property which will result is a higher rate and more restrictive loan.