Auto Loan App and Mortgage

[Anonymous]

So I plan to buy a new car in Feb.  My score as of this morning was 658, no latest in over 3 years but my current credit card usage is high.  By Feb I will have it almost all paid off  My last two car loans were all paid on time so no problems with that.  When I go to fill out the application, do I include the mortgage payment my husband and I have.  We are both on the mortgage but my husband currently pays the mortgage with his salary and I cover all the other expenses.  When filling out the application, do I include the mortgage or not?

[cdtotten]

Yes you include the mortgage payment. You are both responsible for the mortgage and no matter who pays it, it is your debt. If your husband decided not to pay it one month, you would have to pay it.

Remember auto buying is a lot more than credit scores; work history, income, dti ratios, down payment, etc.

Good luck.

[Creditaddict]

I have had auto finance managers "ignore" a mortgage on my report because I did not live in the house, it was a business thing.

I mean you can say I don't pay it but the fact is it's on your reports and they will figure it into the DTI unless you are just barely short and really want to sell you the car!!

But of course this was back in 06' a lot has changed since then, Banks don't typically change your income for you to make the approval go through anymore.

[Anonymous]

Use half of the monthly payment on the credit app.  If the mortgage is 1000$, tell them you pay 500.  This is what will be reported to the banks, and any business manager will know exactly how to address this with the banks.  If the banks even ask. 

[doublespaces]

---

@Anonymous wrote:

Use half of the monthly payment on the credit app.  If the mortgage is 1000$, tell them you pay 500.  This is what will be reported to the banks, and any business manager will know exactly how to address this with the banks.  If the banks even ask. 

---

Is this true? So if my wife and I are on a mortage for 1500 a month, I can get away with only putting 750? Does she have to prove income?