QuestionsDTI ?
asked 4 years ago

We have received an approval for a mortgage on a 2nd home.  On our current primary home we did a loan modification 4 years ago and next year the loan resorts back to a 20 year amoritization note.  Our payments will obviously go up next year – Our DTI at this point is very low 20% Front end and 31% back end.  Next year our housing debt will go up but we will never see that loan as we will refinance or paydown the balance.  The underwiter asked for a copy of our loan modification – any idea how she will view the pending increase it is right at 12 months away.  My salary willincrease and we have a large cash award that vests next year as well.  Any chnace the underwriter would want to bring in the potential debt but not consider income increases?  I think we are ok either way as we are under 25% and 38% but it is really our only contingency was her review of the loan mod.  

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