Assuming my sister's mortgage

[Tracey Marzich]

Hi everyone,

My sister has great financing on her home in the Columbus, OH area (Dublin) and her payment piti is $900.  She could achieve $1,500 in rent. She wants to move on and get a bigger better place but knows she won't qualify for as much house right away carrying the payments on this place. Is there a way for me to assume her mortgage and take that payment away so her lending institution won't use it in their calculations for her debt to income?  Thanks!

[John Horner]

Somebody is going to have the loan on their records (and included in their debt to income ratio), either you or her.  You could have her "rent" it to you for $900/month.  After a year of rent history the bank should include that as income towards her next loan.