Please Forgive This Dumb Question...
It's late and everyones closed so I'll make this as quick and easy as possible. I'm calculating my debt/income ratio and I don't remember if my current rent should be included in my figures. I'm thinking no because if I buy a new place I shouldn't have rent, but if I'm buying a rental property than I'll still have rent, thus I'll need to include it. Could someone please tell me if I have to include my current rent in a debt/income ratio...
No you don't have to include it. You answered your own question. Obviously you won't still be paying rent when you buy the house.