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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?
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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