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Old 08-04-2022, 06:20 AM   #55
SelfGuided
Four Point
 
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Join Date: Mar 2009
Location: Kingsland, TX
Hunt In: Hill Country, Southern Illinois, AZ, UT, NM
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#1 - You have to show 2yrs allowance to offset a payment, i.e. the payment will increase his debt ratio : https://selling-guide.fanniemae.com/...-as-income.htm

#2 - Taxability, CPA, etc. are useless when it comes to mortgage guidelines.

#3 - A 33% DTI is well within the vast majority of loan guidelines (some at 43%, some go to 50%, and FHA will often allow 56.99%).

The simple approach, have him ask his loan officer if $1,000 added to his debt if he still qualifies. It should take them less than 5 minutes to determine.
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