DTI/Co borrower

Posted: Sat Nov 07, 2009 4:11 pm Post subject: DTI/Co borrower

If there are two people trying to get a loan and they are pre approved for $115,000----which is not enough for the home they want. If they were to add another co borrower to the loan...but the co borrower they want to add has a high DTI, will adding this person even help them at all? They are trying to get the loan for $160,000

savior70 · Posted: Mon Nov 09, 2009 5:00 am Post subject:

Hi Guest,

If the co-borrower has too much of debts, it will not be very helpful for you. The co-borrower's debts will be taken into consideration to calculate the DTI ratio. Hence, the co-borrower's high DTI ratio can result in an increase in your DTI ratio and affect your chances of qualification.

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