I own a rental property with my sister that is split jointly do i have to clain the entire payment in my debt to income or half?

You would have to include the total payment not just half, since you would be responsible for the entire payment if your sister stopped paying.. some lenders might consider only half if you can prove she has made her half of the payment consistently for the last 12 months, but it's strictly an underwriters call, but regardless of which way they allow, they would only consider the income you disclose on your tax returns.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

if you are on the loan, you have to claim the full amount, because the underwriters will look at it as what if the sister doesnt make the payment??? i was a underwriter!!my email is yourloanpartnerforlife@live.com linda 602 330 1598

You may be able to include her contribution, if you show copies of the last 12 months payment checks, in which she pays half and you pay half (two checks per month).Otherwise, if the loan shows on your credit report, the entire payment will show as a monthly debt for you. If that is the case, show the entire income on your application.

Unless you can document that she pays all or part of the payment every month (copies of cancelled checks or bank statements showing a draft to make the payment) the whole payment will count as part of your DTI. Be careful calculating your own DTI because it is based on your gross (before taxes) income and the income from the rental is based on your tax return for last year - but adding back in any depreciation. I can help: pdumouchel@primelending.com

Would need more information to be able to give you the correct answer. I am here in Colorado and a locally owned, fully licensed small business 720-670-0124

If you split the mortgage interest and both claim 50% on your schedule E's of your tax returns then you would only be responsible for your portion. If you would like me to review them with you and let you know what can or can't be used I would be more than happy to help. My office is in the Denver Tech Center and you can reach me at loanofficerseanyoung@gmail.com or 303-521-7169. Best wishes, Sean