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will I get financed despite having bought a car 5 months ago?

by gorillagal8643364 from Macon, Georgia. Feb 21st 2014 Reply


Simon Nwoke (SimonNwoke)
#71 ranked lender in Georgia - 37 contributions

Depending on your credit score and debt to income ratio , Yes you can be financed.Call me to discuss 478-330-6382

Feb 21st 2014
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Jeff Albrecht (jeff.albrecht)
#95 ranked lender in Texas - 76 contributions

We will look at your credit score and debt to income ratios. DTI % = (what you spend + PITI) / (divided by what you make) per month. Right now, we are still lending at 45-48% with a Fannie Mae approval, so depending on: credit, down payment, debt ratio, loan to value; determines to outcome from their system. The CFPB has us geared to lower that debt ratio to 43%, we haven't dropped to the lower % yet, so that may or may not be an issue, again - depending on your total debt ratio. Loosely, a car payment of $300.00 per month, is roughly the equivalent of $60,000 of additional buying power, for more of a home that you can buy. If you have great income, the having just bought a car 5 months ago, might now be an issue. Click on my profile to the left, and call me or email and we can chat. Thanks...Jeff

Feb 21st 2014
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Jamie Lynne (nationwidelenderforyou)
#141 ranked lender in Texas - 576 contributions

It would depend on your other dents, income, assets and employment. Let's discuss your loan scenario in more detail. Contact me at 800 315 8803. My name is Jamie and I have been in the mortgage business since 1989. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario. Until then, I look forward to hearing from you. Jamie Lynne - www.bartprequalifies.com - email Jamie@bartprequalifies.com - 800 315 8803

Feb 22nd 2014
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,550 contributions

you could purchase 5 cars, finance them all and still get financing so long as you make enough money and have sufficient credit.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Feb 24th 2014
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,112 contributions

It will depend on your entire credit and income picture. Contact a local loan officer and complete a loan application so he/she can see what you qualify for. Best wishes, Sean

Feb 25th 2014
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