All Forum Posts by: Vandana Patel

Thanks for the reply. I have one more question. This property has been rented since June 2008. Will that rental income be considered as an income in calculation of Debt to income ratio?

Thanks in advance,
Vandana

Hello everyone,

I live in Chicago, USA. My husband and his friend purchased an investment property with a loan amount of $86,000. My husband is a primary borrower and his friend is a co borrower. My husband and I are planning to buy our own residential house. I was wondering, while taking a loan for our new house, how much will be considered my husband's existing liability? Will it be entire amount i.e. $86,000 or half of it i.e. $43000?

Thanks in advance,
Vandana