You should include the following items in your monthly loans and debt payment:
- Auto loans
- Student loans
- Credit card payments (the required minimum monthly payment)
- Mortgage payments (if you intend to keep your current house and its associated mortgage)
You should not include the following items in your monthly loans and debt payment:
- Rent you’re currently paying
- Living expenses (including groceries, utilities, transportation expenses, and so on)
- Special expenses (including vacations, weddings, and so on)
- Mortgage payments (if you intend to sell your current house to purchase this home)
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