does car payments count for debt for mortgage?
i still owe $20,000 on my car. just took out the loan at the beginning of this year by andreacarolina41273 from Deer Lodge, Tennessee. May 20th 2015
Nancy J Releford (nancyreleford)
#4 ranked lender in Tennessee - 233 contributions
Yes your monthly auto payment has to be included into your debts.
Derick Condron (rightstartoregon)
#30 ranked lender in Oregon - 598 contributions
The monthly payment on the car will be taken into account on your total debt to income which there is maximum ratios that it can be.
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
Lenders don't necessarily look at the amount of outstanding debt, but they must take into consideration your minimum monthly payments associated with all your outstanding debt, including your car payment.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com
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