Larry J. at the Senate Hearings, one of the panel members explained that people are qualified on a debt/income ratio of over 50% on ONLY the principal and interest, NOT including the taxes, insurance, HOA, etc.! I find this abhorrent. (spelling- okay, this may find its way into the TRACK house thread)
That’s why I was asking about the language on that advertisement, since we can no longer assume that lenders include all fees in their DTI calculation. I am as surprised as you are.