Auto loan debt: Monthly payments on auto loans, including both new and used vehicles factor into your debt-to-income ratio. Lenders may consider the amount owed, interest rate, and remaining repayment term when determining the impact auto loans have on your overall DTI ratio. ...
She recently instituted a loan arrangement known as a "5/20." Under these terms, the payment is amortized over 20 years with a fixed rate for the first five years. Then, at the five-year mark, the borrower has to requalify and the rate may be subject to refinancing. Borrowers' benefit...