FHA Loan and 10 month debt exclusion

FHA Loan and 10 month debt exclusionFHA Loan and 10 month debt exclusion
ivusanaxo asked 3 years ago

Hey all,


I am in the beginning process of seeking a FHA loan approval. I was told by my  mortgage consultant that all debt must be included, even if there is less than 10 months remaining.

Specifically she stated, “All debts including ones that have 10 or less payments must be counted. Also including deferred student loans. The underwriting guidelines have changed over the years.”‘

I have a 200 debt that will only have 7 months left and I really did not think it would be counted towards my DTI.

Is what she is saying true, or are these more than likely the rules for the lender(s) she deals with?


Thanks for your help!

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