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Which lender is lenient about VA guidelines about installment loans?

I have a loan but my finace makes the payments and has been for 12 months will it still be counted in my DTI? Talked to Wells Fargo they said it must be counted. 
  • October 31 2013 - Washington
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Answers (3)

It is possible to back out that payment if she is a cosigner on the loan and makes the payments, HOWEVER, if that payment is made from a joint account you will not be able to back that out.  You will need 12 months cancelled checks to prove that it is paid by her.  Another way to not count that debt is if there are less than 10 months remaining on the loan repayment.  

With VA loans, we allow up to a 55% DTI - not sure where you were at with Wells but this might help.

Feel free to contact me with any further questions, I lend in MD, DC, VA and am local in Columbia MD.
  • November 11 2013
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Please call me at [spam removed by Zillow moderator due to violation of Good Neighbor Policy]. I have been in the industry for 22 years and I speicalize with VA around or great country. Thanks David Schwab

  • October 31 2013
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Unless she is a co signer on the loan it is your debt individually. Is the monthly payment(s) high enough to increase your house payment & debt ratio above 43%?
  • October 31 2013
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