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Established Contributor
ktl72455
Posts: 831
Registered: ‎12-09-2012
0

Self Employed Going for Auto Loan. Gross income or net?

Fico is TU 613 and EQ 660 range, SE Gross Income of 102,500.00 before decuctions, expenses etc.

 

When financing is looking at Income, which do they base your loan ( ability to pay) on Gross income or Net?

 

I have the down payment and Past 2 yrs Taxes, bank statements etc.

Thanks for any input!

 

12/4/12 TU 589 MyFico ~EQ 579 MyFico ~EX 577(Fako)
1/15/14 TU 665 | EQ 648 | EX 655 ~Myfico scores
6/8/14 TU08 666 | EQ08 656 |EX08 655 } EQ04
My Wallet: Cap1 3,500K ~FH 950 Credit One 1000~Orchard Bank 2000~ Matrix 400 ~NFCU nRewards 18K~NFCU Cash Rewards signature| 5K
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Valued Contributor
Dustink
Posts: 3,009
Registered: ‎10-02-2012
0

Re: Self Employed Going for Auto Loan. Gross income or net?

When I apped, they just checked out bank statements.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


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