Sentences with phrase «ratio of a car loan»

It is equal to the ratio of a car loan amount to the car itself.

Not exact matches

If you already have a hefty student loan balance or other debts, such as credit cards or a car payment, your ratio of income - to - debt might exceed lender limits.

That's true of mile per gallon ratios and performance figures, in addition to determining feasible Chrysler, Dodge, Jeep or RAM lease agreements and car loans for the drivers that we serve from Lancaster, Santa Clarita, Palmdale, San Fernando or Rosamond.

Installment debt utilization ratio — compares the current amount owed to the original principal amount of installment contracts (mortgages, car notes, student loans, etc.).

A fully qualified mortgage is typically run at debt to income ratios of 28/36, where 28 % of your gross monthly income can apply to the mortgage, property tax, and insurance, and the 36 % is the total monthly debt (including the mortgage, etc) plus car loan student loan, etc..

The back - end ratio combines your housing debt with all of your other debts — credit cards, car loans, etc..

When you finance or refinance a car, your lender needs to have some idea of how much your car is worth to evaluate your application for its Loan - to - Value ratio.

Monthly payments for approved credit (mortgages, rent, car loans, credit cards and other forms of credit) that do not exceed 40 % of gross monthly income (if a mortgage or rent is not included, debt - to - income ratio can not exceed 25 %).

Your overall debt - to - income ratio should be no more than 41 to 43 percent of your gross monthly income for most lenders; so if you're still paying for a home equity loan, a car loan, credit card debt or other debt in retirement, it can be tough to meet that hurdle without including the income earned on your retirement investments.

Don't forget the LTV ratio is not the only criteria used to evaluate the risk (or not) of loaning you money for your car.

This means that to qualify for the best mortgage or car loan terms you must have an ideal ratio at the time of credit application.

Along with evaluating the risk criteria, debt ratios measures your ability to repay the mortgage by ensuring your total debt - including car payments, student loans, credit card bills, etc. - does not exceed a certain percentage of your income.

This is a ratio of your major monthly debts (student loan payments, car payments, mortgage payment) to your gross monthly income, and it's something that both the VA and lenders take seriously.

business or student loan) the recent credit checks and added ratio of debt could lower your score, making it a bit tricky to get approval for a car loan.

Other factors that are considered for your car loan include debt to income ratio, how well you have managed prior credit and length of credit history.

Taking a huge chunk of money out of our savings, or applying for a car loan, could affect your debt - to - income ratio, which is a figure lenders use to determine whether you're qualified for a mortgage.

Chase requires a loan - to - value ratio of 80 % for new cars and 95 % for used cars.

The back - end ratio indicates the percentage of income that goes toward paying all recurring debt payments that include those covered by the front - end ratio plus other debts like credit cards, car loans, student loans, child support, alimony, and legal judgments.

Monthly payments for approved credit (mortgages, rent, car loans, credit cards and other forms of credit, including this loan application) that do not exceed 40 % of gross monthly income (if a mortgage or rent is not included, debt - to - income ratio can not exceed 25 %).

To calculate this ratio you need to take all debt payments, including house - related costs, credit card debt, car loan, taxes and other spending, as a percentage of your pre-tax monthly income.

«The looser debt - to - income ratio is a big deal, because it's easy for a couple with two cars, a couple of credit cards and student loans to have a lot of debt,» Sullivan said.

Banks and lending institutions are very specifically concerned about the debt to income ratio of all of their borrowers and potential borrowers, and it stops people from getting loans on cars, houses and credit cards every day.

Any liabilities outside of the housing equation such as a car loan or credit card debt will be factored into the total ratio of 42 % (including the housing expense).

There's a formula to this, and it's not mysterious: If your income - to - debt ratio is 30 to 40 percent (you pay no more than 30 or 40 percent of your income to pay mortgage, car loans, and the like), banks will consider issuing you a bank credit card.

The back - end ratio takes into account all of your monthly debt obligations: your expected housing expenses PLUS credit card bills, car payments, child support or alimony, student loans and any other debt that shows up on your credit report.12