Is it possible for one person with good credit to have a mortgage, and TWO car payments all under their one name?
2006-12-06 22:22:38 · 5 answers · asked by Stuck in MA 1 in Business & Finance ➔ Credit
of course - if they can afford to pay it back and financiers think they are a good risk - they could have many loans
2006-12-06 22:24:51 · answer #1 · answered by Ruthie Baby 6 · 0⤊ 0⤋
Yes. Nobody really cares how many payments someone has to make. What they care about is your ability to pay them and, of course, your payment history when it comes to whether you've been late.
A person who makes $300,000 a year could have those three monthly bills and have it be a piece of cake to pay. The person who makes $30,000 would obviously look more thin-icy to any potential creditors.
The only reason having the three monthly bills would matter would be in terms of applying for more credit (or having credit history reviewed by someone like a potential employer, in which case it wouldn't look all that bad most likely).
2006-12-07 06:34:40 · answer #2 · answered by WhiteLilac1 6 · 0⤊ 0⤋
Hey, that person must be pretty rich to have to car under his credit
2006-12-07 06:25:38 · answer #3 · answered by shai_fu_dean 1 · 0⤊ 0⤋
Sure. It is not the items that affect the ability to borrow it is the income - debt ratios.
Here is some additional info. Hope this helps.
2006-12-07 11:13:43 · answer #4 · answered by Anonymous · 0⤊ 0⤋
yeah but it an't cheep
2006-12-07 06:24:12 · answer #5 · answered by dieseldick3408 2 · 0⤊ 0⤋