Final answer:
When considered as a borrower, one must report all existing financial obligations, including child support, alimony, and student loans, as they affect the debt-to-income ratio, a significant factor for loan approval.
Step-by-step explanation:
When being considered as a borrower, financial institutions require a full disclosure of your existing financial obligations to assess your creditworthiness. The obligations that must be reported typically include child support, alimony, and student loans. These are considered during the underwriting process to determine your ability to take on and repay the new debt.
All of these obligations can affect your debt-to-income ratio, a key factor that lenders consider when approving loans. It's important to report all required obligations truthfully to ensure that the loan decision is made based on accurate information. Failing to disclose these could lead to complications or even the cancellation of the loan if discovered later on.