Housing Ratio

Is the Housing Ratio figured by using a 2nd MTG payment also if applicable?

I would venture to guess that most lenders, investors include ALL housing related payments in the housing ratio, including any 2nd mortgages. HAMP guidelines, for some inexplicable reason, do NOT include them in the housing ratio.

2nd mtg payment would be included along with homeowner's insurance, property taxes, flood insurance, and home owner's association fees (if all are applicable).