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Old 12-14-2007, 02:07 AM
jco
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Question Debt to income ratio help!
I have a couple questions about this:

Are the banks using income before or after taxes?
Are property taxes included in this ratio? In other words, will they take principle, interest, mortgage insurance, house insurance, and taxes and count that as debt or just principle and interest?
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Old 12-14-2007, 05:50 AM
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Originally Posted by jco View Post
I have a couple questions about this:

Are the banks using income before or after taxes?
Are property taxes included in this ratio? In other words, will they take principle, interest, mortgage insurance, house insurance, and taxes and count that as debt or just principle and interest?
Gross Income - before taxes is used.
Principal, interest, taxes, insurance and mortgage insurance and HOA fees, if any.
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Old 12-14-2007, 05:54 AM
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The front figure is your gross income and all housing expenses. The second is housing costs plus any debt.
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Old 12-14-2007, 09:33 AM
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Thank you!
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