Payment rules for the first, when buying a second home

[John Lee]

Hi all,

Will lenders look at the just minimum mortgage payment that's on my credit report or will they include the HOA and home insurance (Those 2 are not escrowed) in my debt to income ratios when they're qualifying me for the second mortgage.

I'm looking into buying a second home as my primary residence and renting out the first. I don't plan on using the rental income to qualify because I don't meet the criteria. But my only question is that will the lenders include the MINIMUM payment that's due for the first mortgage each month ($1400) in my debt to income ratio. Or will they also include the HOA and home insurance ($340) in the dti too when qualifying Me for the second home as a primary residence. I'm planning on using Bank of America for the second home. First is with Wells Fargo. Probably an FHA.