Chris Gummerson (cgummerson11)
#9 ranked lender in California - 537 contributions
Hello Joel, Student loans dont count againts your DTI if they are deferred while you are schooling. DTI is calculated by taking your mortgage principal payment, interest payment, taxes, insurance, any mortgage insurance and or HOA dues. and adding in all of your other debt payment, car loans, credit cards, alimony, child support ect. Take your total debt and divide by your income. ie. 1500 monthly debt with mortgage, and you make 5000 a month 1500/5000 = 30% DTI. You want to stay under 45%. Some exceptions can get you to 50 or 55% on FHA loans. Hope this was clear!!!!