Reply
New Member
dangelo25
Posts: 9
Registered: ‎08-28-2012
0

Child support payments affecting DTI?

Is it absolutely necessary to mention child support payments on Auto loan app? I pay monthly over 100k. with child support my DTI is 26%.  Concerned that I make more than enough money yo cover the 2nd car loan and keeping up with my savings. Just afraid they could reject the loan.  My current wife credit is not good so she cannot get anything in her name. So I have to finance in mine and already have a truck payment?  


Any issues with this?  I have a court order but I pay support by mail each month. Nothing coming from my payroll anymore. need avice whether I should worry either way. thx

New Member
dangelo25
Posts: 9
Registered: ‎08-28-2012
0

Re: Child support payments affecting DTI?

I meant earn over 100k yr. not pay 100k a month in support
Community Leader
Senior Contributor
StartingOver10
Posts: 4,206
Registered: ‎03-06-2010
0

Re: Child support payments affecting DTI?


dangelo25 wrote:
I meant earn over 100k yr. not pay 100k a month in support

Yes, it is necessary to mention all of your payments in the app for a new loan.

 


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}