Jason Caruso, Senior VP Operations, explains the ins and outs of excluding installment debts. The general rule is that if a close-ended installment term (think car or student loan) has 10 payments or less, you may be able to omit those payments from your debt ratio and have a better chance at securing a loan.
For more information and to see if an excluding installment debt applies to you, contact our experts at Blue Water Mortgage.
