Posted on: 19th Aug, 2011 02:11 pm
Hi, I have a mortgage right now but I rent it out. Now I want to assume to loan that my dad is paying for his house because of his income getting decrease. Would my my monthly income from the rent and monthly morgage payment wash out? I am trying to calculate to see if I am qualify for the DTI. Thanks. I have student loan but it is in deferr now because I am in school... would it consider bad credit for me? and is student loan will take in consideration for DTI
Hi jishida,
The student loan won't be considered bad for you as you're in school now. Your monthly income from the rent may be taken into consideration as your income but your monthly mortgage payments will be considered as your expense.
The student loan won't be considered bad for you as you're in school now. Your monthly income from the rent may be taken into consideration as your income but your monthly mortgage payments will be considered as your expense.
There is nothing to be afraid of having a student loan. However, you will definitely have a hard time repaying your loan.
How long have you been renting your property? And have the renters always paid on time?
