Mortgage amount in debt to income ratio
One's mortgage payment is central to calculating total debt for Debt to Income Ratio (DTIR). I own my house with my partner (we're not married), and it's not clear to me if my personal DTIR would include the total mortgage amount or 50% of it since the property and costs are shared.
I suppose this question could extrapolate to other debts that are shared such as car and credit card payments (for the back-end calculations).
What do you think? Would banks include 100% or 50% of the mortgage to my debt calculation?
Thanks
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Official comment
Thanks for posting, Forest!
While we're not able to offer personalized financial advice, here are some resources that should help point you in the right direction:
If those articles don't answer your question, I suggest contacting the bank(s) you'll be working with, as different banks may have different methods of calculating DTIR in this scenario.
Best Regards,
Victor
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