cwanja
Active Member
Are you Elon's monkey piloting Neuralink? How are the bananas? Have you beat pong yet?Lol, like Elon would have the time to be on here.
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Are you Elon's monkey piloting Neuralink? How are the bananas? Have you beat pong yet?Lol, like Elon would have the time to be on here.
It's not whether a person can afford to pay for the house or if the debt/income ratio degrades or improves, it set e volatility of seeking credit that the underwriters are wary of. Underwriters and banks do NOT like change when they're about to close a deal.YA THINK!?
If you can easily afford both the car and the house, there's absolutely NO reason why you shouldn't buy the car first, in my opinion, but don't take that as gospel because I'd rather not get into trouble, hah! All I can say is I did this very thing, and it had no impact on anything. The credit pull on the car dropped me a few points (so the hell what?), and that was it. It was never mentioned at any point during the house-buying process.
Again, just speaking for myself.
I'm of the believe that if you're at a point where you can't be buying a car at the same time as a house, probably shouldn't be buying the car/house in the first place... If that's not the case, I'd chat with someone about buying that car. $17k is not insignificant...
Well put.It's not whether a person can afford to pay for the house or if the debt/income ratio degrades or improves, it set e volatility of seeking credit that the underwriters are wary of. Underwriters and banks do NOT like change when they're about to close a deal.
Getting the car would not change the probability percentage of securing the mortgage to zero, but it could create the need for a narrative that explains the decision.
I've been through all of this in the past. The narrative can assuage the underwriters fears, and likely the mortgage would go through anyway. But if the home is more important than the car, it's important to consider that the likelihood of securing the mortgage will move closer to a negative result than a positive result, although the positive result can still be obtained.
It's a risk tolerance and priority problem.
- Wait till you get the text with the spot number before heading to the factoryGame day today! Headed over shortly to pick my Model S LR Blue/ Cream/ Walnut 21” FSD at 10 am at the Fremont Factory!
Any advice from folks who picked up the car in Fremont?
Will post pictures soon!
Well put.
My experience - we were closing on our first house and in the last two weeks I opened an iPhone Upgrade Loan during the purchase of an iPhone. You would have thought I sent nuclear alarm bells by starting at $45/month two-year loan when I had plenty of income to cover both the mortgage and the new loan. I had to write and sign a letter stating what the loan was, the amount, terms and probably sign over my first born to close the mortgage.
Never again.
I took your advice and nowYA THINK!?
If you can easily afford both the car and the house, there's absolutely NO reason why you shouldn't buy the car first, in my opinion, but don't take that as gospel because I'd rather not get into trouble, hah! All I can say is I did this very thing, and it had no impact on anything. The credit pull on the car dropped me a few points (so the hell what?), and that was it. It was never mentioned at any point during the house-buying process.
Again, just speaking for myself.
I'm of the believe that if you're at a point where you can't be buying a car at the same time as a house, probably shouldn't be buying the car/house in the first place... If that's not the case, I'd chat with someone about buying that car. $17k is not insignificant...
It should be my choice if I’m over extending myself, but car loans are easier to secure and talk through debt to income ratio wise. House note puts me at ~35% and they won’t count my rental income towards that. I have friends that rent from me which income I can count when securing my car loan. My actual DTI is likely at 30% when closing both loans.It only matters if you can’t qualify for both debts. Essentially you’re over extending yourself with both purchases.
If you have the income to support it there is no issues with buying whatever you want. Prior to closing on the house.
In a really nice car.Houses are overrated IMO. Living under a bridge is the new hip thing to do.
It is actually not when you're asking for 100's of thousands of dollars (or more) to purchase a home. The lender/investor get to make those decisions. I would just speak with your lender and let them know the situation. They will tell you exactly how it may or may not impact your loan decision.It should be my choice if I’m over extending myself, but car loans are easier to secure and talk through debt to income ratio wise. House note puts me at ~35% and they won’t count my rental income towards that. I have friends that rent from me which income I can count when securing my car loan. My actual DTI is likely at 30% when closing both loans.
Who can I talk to about buying the car? I’m open to selling it but yeah the way interest rates are going I’m not willing to sacrifice my home loan. Frustrating my ticket came up at just the wrong time.
Took hold off on 12th. Passed a VIN in Feb. EDD May - Juneon another note is this the trick to getting a VIN. I swear everyone lately that says I released my hold today, got a VIN almost instantly. Do I need to place a hold for a day and release to get my dang VIN?
My EDD starts today 3/16-3/30
Fully expect it to be delayed again, and then delayed again.
I’m never getting the car am I?!
I remember that a relative had a bulldog and on a hot day he would pant so much that I swear when you looked down his throat you could see his break wind gland!BREAKING: Another dead-on topic post...
Seeing EP's avatar made me think of this one:
View attachment 781650
I’m convinced they are done for the quarter. Trying to flush out all the old inventory refresh 1.0. Inventory tracker shows ~10 plaids.My EDD starts today 3/16-3/30
Fully expect it to be delayed again, and then delayed again.
I’m never getting the car am I?!
It's just the new pic from the Model S page lol!BREAKING: Another dead-on topic post...
Seeing EP's avatar made me think of this one:
View attachment 781650