FHA Tip Of The Day

Mortgage and Lending with Southwest Funding

HUD guidelines do not require that a married couple both be on the loan, however, the debts from a a non-purchasing spouse must be counted in the DTI ratios. That being said, did you know that derogatory trade lines (from the non-purchasing spouse), such as collections and judgments, are NOT counted against the loan attributes?

Jeff Schraeder

DFW Loan Officer

Imperial Mortgage

Comments (1)

Tom Burris
NMLS# 335055 - Baton Rouge, LA
Texas/Louisiana Mortgage Pro - 13 YRS Experience

Yes, I did.....

But that is another story.

What up?

Aug 16, 2008 08:37 AM