But that DTI includes his mortgage and student loans. I’m just trying to learn a bit here for my own interests, so I’m not trying to imply anything. As a consumer I had always been under the impression that longer term and lower interest rate debt isn’t looked at the same way as revolving consumer debt might be regarded? His outstanding debt should be 40% of his annual income of $64,000 or $25,600 in outstanding debt according to the information provided. I managed to get out of pharmacy school with around $160,000 in student loans and a brand new mortgage of $300,000, with an initial salary of only $60,000 per year (this was in the late 1990’s). So with that background I think this OP seems to be in a strong financial position compared to my reality back then. So there must be more factors considered by a lender than just income and DTI? I would love to understand this a bit better?
Thank you
RecoverCurious4423 t1_iy8mpjt wrote
Reply to RV Financing - current interest rates by Longjumping-End-3892
But that DTI includes his mortgage and student loans. I’m just trying to learn a bit here for my own interests, so I’m not trying to imply anything. As a consumer I had always been under the impression that longer term and lower interest rate debt isn’t looked at the same way as revolving consumer debt might be regarded? His outstanding debt should be 40% of his annual income of $64,000 or $25,600 in outstanding debt according to the information provided. I managed to get out of pharmacy school with around $160,000 in student loans and a brand new mortgage of $300,000, with an initial salary of only $60,000 per year (this was in the late 1990’s). So with that background I think this OP seems to be in a strong financial position compared to my reality back then. So there must be more factors considered by a lender than just income and DTI? I would love to understand this a bit better? Thank you