Pardon the delay
From what I saw, AFS didn’t care about the DTI as much as the depth of credit. I’m self employed, stated my income, they didn’t care about cash in my bank accounts, just seasoned highest credit limit on my credit report for a car or a mortgage to show payment history.
I had high credit limit on Chase for a new Range Rover, but wasn’t acceptable because it was only 60 days seasoned before it was closed. They needed 12 months of history to use this trade line
Actually if you had put that first, that would explain a lot. After people started defaulting on loans they would definitely look askance at Self employed folks. Cash in a bank is just that, cash, it doesn’t pay their bills if you default.
I showed my employment as my company name, which shows on my credit report as my employer. They didn’t ask for tax returns, Does AFS 4506T to confirm?
not a clue, during 2020 they were like the housing market, ‘Oh Rover needs a car, have him put a pawprint here!’ kind of deals.
Nowadays each one will need their own requirements. A 4506-T is a common request to show year after year income proof.
Yes, so as far as AFS was concerned I was employed, not self employed, I believe at least