Auto Loan DTI

[Anonymous]

Hello all,

I have a question for DTI that keep me awake for the last few nights Here a bit of my info:

1. Monthly income $5,500

2. FICO - 800+ (based on Amex/WF/Chase card score). No inquiries since 2017. No negatives.

3. Existing loan: $300/month car, $2,000/month mortgage. Note: The mortgage has 2 persons on it so my part is only $1,000.

4. Current DTI (including minimum dues on CC) is : 45% (if count the mortgage as $2k) or 27% (if count the mortgage as $1k)

I got an auto loan thru my local FCU back in 2017 and they required proof (paystub for the co-mortgagor) in order to qualify me under $1,000 mortgage obligation. Their max is 45% DTI. However, my relationship with that person isn't good anymore and I will not be able to get his paystub for my up coming auto loan.

My questions are:

1. Toyota and Mazda are offering 0% financing right now. Will I able to qualify as is? I believe they are prime auto loan and don't care much for DTI.

2. If I go thru FCU, what is the chance that I will qualify?

3. Does the max DTI is current DTI or with the new loan amount factored in?

3. Any other ideas/sources?

Thank you for your advises!

[Shooting-For-800]

I would think you would be fine.

They want to sells cars...BADLY!

[Brian_Earl_Spilner]

Toyota can finance whoever they want, Chase cares about DTI. Your DTI will be factored with your new car payment. Whether they count your mortgage as $1k or $2k will be up to the lender.

[Anonymous]

I just did 2 prequalify with Capital One and Chase. Capital One gave me up to $60,000 but Chase only gave up to $50,000. I would assumed that they took in consideration of all the monthly dues on accounts and made that estimate (with my gross income). Would that even meant anything?