I should have added a qualifier… it’s an implicit assumption. I think anyone reading my posts would know I’m making an assumption… at least the intelligent ones. They call it being presumptuous and they’d be right.
You nit-pick every itty bitty little thing I say in an effort to nail me and always seem to follow me around. I must make you feel very insecure or inferior and so, you have this burning need to practice “oneupmanship”. Admittedly, I’ve gotten very sloppy and will, henceforth, be much more careful about how I word my posts so I don’t give people like you, bent on practicing oneupmanship, any opportunity to do so. You seem to inflame some others posters (e.g., KD6-3.7) as well. Sometimes, I think you’re on this site just to make yourself feel good at the expense of others. Go find something productive to do.
Amen…
After reading through this, somehow, this song popped into my head…
You must be a lawyer or a prelaw student
I have found a potential good reason to do this and curious if anyone has been in the same boat.
My lease payment is somewhat impacting the pricing of or the ability to qualify for a mortgage since it is added to the Debt to Income ratio (monthly debt payments / monthly income). By paying it in full, I think the credit report would report it as $0. There seems to be no other workaround for this.
Has anyone else experienced this?
That’s not what I was told. The bank views leases as ongoing liabilities. If you have a $400/mo lease - they factor it into your DTI beyond the time of the lease period as they assume you will lease another car or have buy/finance a new one.
The only things that are taken out of your DTI are loans with less than 10 months remaning.
This was my experience as of July 2017 for purchase and July 2018 refinance.