What to list as Housing Payment on auto application? Don't want to raise a flag

[Anonymous]

Im about to apply for auto loan for a Tesla.  Married within the past year and moved into a house my wife had previously purchased.  The home is still in her name and she pays the mortgage.  I cover pretty much all other expenses. . .

Since the mortgage loan won't show up on my credit report, should I list as "living with relatives"?  Or "rent" and put an appropriate amount?  "Own" - Full amt?

I am worried about the automated process raising a flag if I submit something contradictory to what will show up on a report.

Thanks, BB

[DaveInAZ]

Is your income high enough that your car payment & other expenses are below 30% of income? If so, since you're 'covering all other expenses' I suggest you put down rent and list a reasonable amount that won't raise a red flag. You're covering all other expenses can be reasonable considered you paying your wife rent.

[Anonymous]

FICO 8 - 762

FICO AUTO 8 - 759

FICO AUTO 2 - 769

INCOME 210k

CURRENT AUTO 758/mth

ADDITIONAL NEW AUTO 800/mth

CC BALANCES $5k

CHARGE CARD BALANCES $32K

MNTHLY PYMTS INCL CURRENT AUTO $1,100

"RENT" $1200

Thoughts?

[Shooting-For-800]

Own.  You are married.  Shared assets.

If including her income, full mortgage payment.

If not, half mortgage payment.

Thats the rule I use.

GL!

[Anonymous]

I sent the question to Tesla financing and got the response below. . . . . Interesting.

Hi Brian,

Thank you for reaching out.

If the mortgage is in your spouse's name, you would not need to include the mortgage as it is not part of your obligation. Lender will be able to view the debt obligation when they access the credit bureau. You may select live with relative.

Best,

MZ

[Shooting-For-800]

LoL!  How ridiculous.

[Anonymous]

Which part is rediculous?

[myscorerocks]

I think that's a good thing. Shows you have more income and will lower your debt to income ratio. I plan to do the same.