UPDATE: You no longer have to FHA if you’re paying alimony... Fannie Mae and Freddie Mac have updated their guidelines. Check it out here!

Most mortgage originators know that if you have less than 10 payments remaining with alimony or child support payments, it may not have to be factored into your qualifying ratios (debt to income) as long as the payment doesn’t impact your ability to pay the mortgage following closing.  A borrower needs to be well qualified with plenty of savings for an underwriter to support this guideline. [Read more…]