Will banks include a Part-Time Job in DTI?
2 Replies
LaQuan Bates
from Maryland
posted about 1 year ago
Hello BP Family,
I plan to get a Pre-Approval soon to better understand the price range and types of properties I should be looking at for my first House Hack. I recently moved to the DMV from the Midwest(Go Bears!) and just started a Full Time job working in IT. I also just secured a Part-Time job to speed up my saving process for a downpayment on my first home. I originally wanted to go the FHA route but after talking with a agent and really weighing my options I am now leaning towards a conventional loan. The question I have is, will Banks take into consideration a Part-Time job in regards to my DTI? If so how much weight does this Part-Time job hold and can it really make me a more qualified buyer?
Russell Brazil
(Moderator) -
Real Estate Agent from Washington, D.C.
replied about 1 year ago
@Upen Patel is a loan officer in the area and should be able to answer those questions. @Chris Mason is a non area loan officer who likely can to, because that dude knows all the guidelines better than anyone I know.
LaQuan Bates
from Maryland
replied about 1 year ago
@Russell Brazil thanks Russell!