Forum Discussion
deltabravo
Sep 16, 2015Nomad
I should clarify, since the above info might be confusing -
I've made two deals on a 17k. The first one is described two posts above. That's the one where the credit union came back and wanted higher down payment to lower the loan amount, all as a result of my self employment and lower income, which skewed my debt to income ratio from their perspective... same one as where the salesman didn't want to talk price until I was ready to buy.
The second deal I penciled, I cancelled it due to getting cold feet and questioning my need for a second RV, but then a few days later I concluded the 22H made more sense.
Here's another interesting tidbit I came across - none of the financial institutions have ever asked for proof of income, which seems like a more important aspect for self employment situations, since those sources of income can be variable from month to month.
I've made two deals on a 17k. The first one is described two posts above. That's the one where the credit union came back and wanted higher down payment to lower the loan amount, all as a result of my self employment and lower income, which skewed my debt to income ratio from their perspective... same one as where the salesman didn't want to talk price until I was ready to buy.
The second deal I penciled, I cancelled it due to getting cold feet and questioning my need for a second RV, but then a few days later I concluded the 22H made more sense.
Here's another interesting tidbit I came across - none of the financial institutions have ever asked for proof of income, which seems like a more important aspect for self employment situations, since those sources of income can be variable from month to month.
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