Auto Loan under 10 months in mortgage DTI

[robjane58]

We are going to buy a house next May in the Austin, TX area. At that time we will have exactly 10 remaining car payments. Everything I have read says if there are fewer than 10 remaining payments it's not included in the DTI calculation but a loan officer I spoke to says that is not correct, that it would still be included and it depends more on the amount than how many months remain on the loan? Is there some official guideline on when the loan is not included in the DTI calulation and can I pay the additional months before closing or at closing for it not to be counted? She also said I need 3 straight years of annual bonus pauments for them to included as income and everything I have read says 2 years. Is this up to the individual lender or am I getting some wrong info?

[hegemony]

the rule of thumb might have changed, but I've always been told 6 month or less terms were excluded from DTI. I would not be surprised, however, if for mortgages this has changed.

 

the bonus question varies by lender in my experience.