Will a business purchase hurt a mortgage loan

[Anonymous]

My husband is self employed and is wanting to purchase a Van for the company in the company name. Will this have a negative affect on our Mortgage Application next year. Will they count in for our DTI or will it be considered business? I don't want to risk anything at this point because we are trying to pay our debt down and pay off some collections.

[JVille]

If he is a small business yes it will impact his credit score and DTI. He may write it off Thru the business but they will still use his credit and SS# when the loan is made.
How long until you believe you will be in a position to be approved and purchase?

[Anonymous]

We are applying next year after Taxes we need the two year full tax returns. It's a nightmare we have been screwed in taxes because we can't take our full deductions to show the right amount of income. It feels like you get hit at every turn. I have told him I thought this should wait because it may effect us badly

[JVille]

If you are trying to Qualify after Taxes 2020 then do Not buy a new vehicle now, wait.