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Updated almost 6 years ago,
Front-End DTI Ratio Questions
Hello all,
I'm planning on making my first home purchase soon (within the next 30-60 days if all goes well).
I am planning on house-hacking - I have some friends willing to live in with me at the house I buy and they are willing to pay me rent.
Since I will have roommates paying down my mortgage, is it somehow possible to factor this into the front-end DTI ratio? Has anyone seen this to be the case? Of course, I feel that if this gets factored in, I can get approved for a higher amount because less of my income will be going to the mortgage expense (my roommates are essentially paying my mortgage).
Thanks!