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For 2 applicants fha DTI is calculated as one or per individual to qualify?

CHF Platinum Grant, is that available for a purchase in  the city of palmdale, CA first time buyers helppp!!!!!!!!!!!!
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July 17 - Palmdale
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Answers (2)

Hi,

Todd had a great response for your question. I would contact a local lender who is familiar with any type of local incentives to purchase. 

Good Luck!
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5 days ago
The DTI of both applicants together must be within guidelines in order to qualify.  Also, for FHA transactions, the applicant's spouse must submit to a credit check as well, even if they are not a party to the transaction.  In this case, the non-purchasing spouse's credit score will not be considered so it will not prevent the purchasing spouse from getting approved for an FHA mortgage based on credit score alone. What does vary from lender to lender is whether or not the debts of the non-purchasing spouse need to be considered in calculating the purchasing spouse's debt-to-income ratios.  In some states with community property laws, lenders are required to add in those debts, because in those states each spouse is entitled to half of all community property, but also liable for half of all debt. For other states, some lenders will add in that debt because they consider that the debts will have to be paid by the household anyway.
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July 24
 
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