No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
My company service vehicle is a cargo van. The expenses are accounted for on my schedule C. The payment is made every month out of my business checking. The payment amount is on my personal credit report since I did get the loan for the van. My Sch. C net income is already reflecting the vehicle expenses.
When a loan officer is calculating my DTI ratio could the payment amount of the van be except since its already accounted for?
TIA!
If you are on the loan for the van then I'd assume that it would have to be included in your DTI. Even if you are paying it out of your business checking account, you are the responsible party.
If you can document the business has been paying the debt for the past 12 months + it's accounted for as an expense on the tax return, then it wouldn't be counted against your DTI since it's already been factored into the net income from your Schedule C.