A frequently asked question at Gustan Cho Associates is can you buy house with credit card debt but pay off the credit card once the lender says your debt-to-income ratio exceeds the max? The answer is yes, you can have credit card debt when buying a house. However, if the mortgage underwriter says your debt-to-income…
In this article, we will cover the topic of whether can co-signing affect DTI on home purchase. There are instances non-occupant co-borrowers love to co-sign for a family member’s home purchase but are afraid it may affect their home purchase down the road. It is often difficult to say no when a family member asks…
This guide covers HUD credit score guidelines on FHA loans. HUD, the parent of FHA, is the government agency that sets the minimum HUD credit score guidelines for FHA loans and other updated HUD guidelines. Many of our viewers today are reading this blog because they are getting conflicting reports on the HUD credit score…
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