Fannie Mae And Student Loansadvantage mortgages (collectively referred to as Home Possible mortgages) offer outstanding flexibility and options to meet a variety ofInterest paid on personal loans is not tax-deductible.If you borrow to buy a car for personal use or to cover other personal expenses, the interest you pay on that loan does not reduce your tax.Fha Approval Process For Condos Condos are becoming FHA no-lending zones – Condominium boards, on the other hand, contend that some of the evaluation criteria are too strict and that the certification process is bureaucratic and. the number of condo developments approved.
Your gross monthly income is generally the amount of money you have earned before your taxes and other deductions are taken out. For example, if you pay $1500 a month for your mortgage and another $100 a month for an auto loan and $400 a month for the rest of your debts, your monthly debt payments are $2000. ($1500 + $100 + $400 = $2,000.)