Mortgage DTI Calculation - Is my lender wrong?
I am currently applying for a loan. I'm not sure if my lender is calculating my DTI correctly. Please let me know if this is correct:
Gross Monthly Income: 6,000
Monthly Debt: 610
Rental Income: 1,300 * .75 = 975
PITI: 2800
DTI Limit: 43%
She is calculating it as (6,000+975)*43% = 2999.25
2999.25-610 = 2389.25
Is this correct? I think it should be 6,000*43% = 2580
2580 + 975 - 610 = 2945 ????
I did not think you could only use 43% of the rental income. Please if someone can help, I'm supposed to put in a best and final offer by tonight!