Posted by Bob(OH) on January 06, 2003 at 21:11:20:
When a bank pulls your credit report, it will show your mortgage in the normal way…of course.
Your debit to income ratio will be affected…of course.
Now, what you will need to do is to be sure you have your ducks in a row as far as paper work goes. Also, now remember not all banks are going to be the same so you may have to shop around. Some banks will only look at your report and some, as I have found, will not put it in the formula as long as you have supporting documentation. Some banks may require some seasoning of …6 - 12 months.
The best thing you can do is show income to off set the current mortgage payment and something extra would be nice…of course. Be sure the insurance is paid up and that you (or the mortgage company) is the loss payee.
Small town local banks or credit unions, I found, are the best to get along with.
Good luck !
Bob(OH)