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DTI calculation

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HELP Guest	Posted: Thu Nov 24, 2011 9:23 pm    Post subject: DTI calculation Like 0 Dislike 0 Hello there. Can anyone help me know that if my cards are all at a $0 balance, will they use a 0 for that part of the DTI calculation or use the "minimum payment" for that? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Thu Nov 24, 2011 9:51 pm    Post subject: Like 0 Dislike 0 Hi Guest! Welcome to forums! As far as I know, the creditors/lenders will use $0 while calculating your DTI. They won't use the minimum payment while calculating the debt to income ratio. Feel free to ask if you've further queries. Sussane
jveenstra Community Expert Joined: 10 Nov 2008 Posts: 1310 Location: River Edge, New Jersey 274.62 Dollars($)	Posted: Fri Nov 25, 2011 10:11 am    Post subject: DTI Like 0 Dislike 0 A zero is used for revolving accounts with no balance to calculate DTI _________________ John Veenstra, Sr Mortgage Consultant Approved Funding Corp Licensed NJ NY CT PA 201-833-0123x278
joshuaheckathorn Joined: 09 Feb 2010 Posts: 106 Location: Seattle, WA 18.81 Dollars($)	Posted: Mon Nov 28, 2011 10:11 am    Post subject: Like 0 Dislike 0 If you have a $0 balance on all your credit cards, then your minimum payment should be $0 too. _________________ Creditnet.com: Compare the best credit cards and apply securely online.
Guest	Posted: Tue Nov 29, 2011 6:26 am    Post subject: Like 0 Dislike 0 Is the $0 balance being presumed since you pay off credit card balance is paid in full each month? There is a timing differance in what's shown on the credit report. If the credit report shows a balance (i.e., you haven't yet been billed and therefore have not paid off), the minimum balance will be used. Exception is mandatory PIF card, e.g. some American Express cards.
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Tue Nov 29, 2011 10:06 pm    Post subject: Like 0 Dislike 0 Welcome Guest, As far as I know, as you don't owe any balance amount on your credit cards and as you pay off the debts in full, the lender will consider $0 while calculating the DTI. _________________ Procrastination is the enemy of your financial success

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