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http://www.fanniemae.com/content/guide/selling/b3/6/05.html
Dec 04, 2019 · Alimony/Child Support/Separate Maintenance Payments When the borrower is required to pay alimony, child support, or maintenance payments under a divorce decree, separation agreement, or any other written legal agreement—and those payments must continue to be made for more than ten months—the payments must be considered as part of the borrower’s recurring monthly debt obligations.
https://www.rd.usda.gov/sites/default/files/3555-1chapter11.pdf
Total debt includes monthly housing expense PITI plus any other monthly credit obligations incurred by the applicant. Obligations for child care, voluntary contributions to retirements such as a 401K, and open accounts with zero balance, are not considered a debt. The lender must document an applicant’s debt through various records including a
https://www08.wellsfargomedia.com/assets/pdf/home-lending/mortgage-assistance-debts-expense.pdf
mortgage expense) $ . Investment or insurance income $ . Other sources of income QUICK TIP not listed above $ . You ’re not required to reveal your alimony, child support, or separate maintenance income if you don ’t want us to consider it for the application. What are your household assets? Checking account(s) and cash on hand $ . $ .
https://www.chfa.org/assets/1/6/Operating_Manual_-_Section_05_Underwriting_Rev_7-18.pdf
total amount of monthly housing expense plus all other monthly payments on installment loans, student loans, and revolving credit is 45% of the borrower(s) gross monthly income. Alimony, child support and maintenance payments are to be considered in this category. The USDA-RD-guaranteed and VA-guaranteed loans
https://new-content.mortgageinsurance.genworth.com/documents/training/course/RentalIncomeMatrix.FreddieMac.0319.pdf
The monthly housing expense (as described in Section 5401.1) must be ... necessary to support income stability, and provide a written analysis explaining the ... as long as, there is documentation that the borrower has had prior experience managing an investment property for one year at a minimum.
https://quizlet.com/218014101/chapter-7-government-loan-programs-flash-cards/
When the MLO knows a borrower's stable monthly income, he can multiply that by the housing expense ratio to determine the - maximum monthly housing expense the borrower can afford. For example, if a borrower has a stable monthly income of $3,200, the maximum housing expense on an FHA loan is $992 ($3,200 x .31).
https://new-content.mortgageinsurance.genworth.com/documents/training/course/LPARentalMatrix.1119.pdf
The monthly housing expense (as described in Section 5401.1) must be added as a liability ... documentation is necessary to support income stability, and provide a written analysis ... reserves*, regardless of whether rental income is used in qualifying the borrower.
http://ask-poli.fanniemae.com/Selling-Guide/Origination-thru-Closing/Subpart-B3-Underwriting-Borrowers/Chapter-B3-6-Liability-Assessment/1032996291/B3-6-05-Monthly-Debt-Obligations-12-04-2019.htm
Equity lines of credit secured by real estate should be included in the housing expense. If the credit report does not show a required minimum payment amount and there is no supplemental documentation to support a payment of less than 5%, the lender must use 5% of the outstanding balance as the borrower's recurring monthly debt obligation.
http://usdaloan.org/guidelines/
Ratios must meet requirements as stated in RD Instruction 1980-D, §1980.345(c)(3). The monthly housing expense to income ratio should typically not exceed 29% and the total debt to income ratio should typically not exceed 41%. However, originators may request a ratio waiver with documentation of acceptable compensating factors.
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