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FirstTimeBuyer

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Will lenders count my high rent against me when calculating my Debt to Income Ratio (DTI)?
When I add in my very high rent my DTI is over 50%. However when rent isn't added my DTI is more like 22%. The whole reason I would like to buy is because rent is sooooo expensive where I live (not a lot of inventory in decent neighborhoods). But I am afraid a lender will count it as a strike against me. Should I be worried about getting approval for a mortgage because of this?

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That is a good question, and I never have been asked this, but I'm going to say no.  When/If you get a Mortgage, you won't be paying rent anymore.  To my knowledge, they're only going to count actual things on your report such as Credit cards, auto loans, etc..   To give you an idea, people have gone out and gotten brand new cars in the middle of the mortgage process.  This tanks/ruins their DTI, and basically kills the loan.   No one is stopping you from going and maxing out your credit cards the day you move into a house, which "would hurt your DTI", but mortgage lenders want to know that with your current financial situation, you'll be able to afford your mortgage.  Again, good question, but I still say it shouldn't matter.

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