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polak · 12-11-2013, 01:42 PM

So I have a mortgage question that I was hoping one you more financially astute folks could help me with.

Basically, I need to buy a car this week as mine is now kaput and transit isn’t an option where I work. Now I was hoping my car would make it until I get a mortgage (some time early 2014) but since that’s no longer a possibility, I need to know what a safe debt load is, percentage-wise, so that I can still be approved.

I don’t have any cash to buy a car at the moment so I need to finance. Bad luck timing wise. I’ve budgeted what I could afford based on the Mortgage, Condo fees, Property Tax… etc. I’m expecting to take on, but I know the banks will probably have a different # in mind.

Hope that made sense. Help greatly appreciated!

12-11-2013, 01:42 PM	#1
polak In the Sin Bin Join Date: Aug 2012 Exp:	Mortgage Question: Acceptable Debt Load? So I have a mortgage question that I was hoping one you more financially astute folks could help me with. Basically, I need to buy a car this week as mine is now kaput and transit isn’t an option where I work. Now I was hoping my car would make it until I get a mortgage (some time early 2014) but since that’s no longer a possibility, I need to know what a safe debt load is, percentage-wise, so that I can still be approved. I don’t have any cash to buy a car at the moment so I need to finance. Bad luck timing wise. I’ve budgeted what I could afford based on the Mortgage, Condo fees, Property Tax… etc. I’m expecting to take on, but I know the banks will probably have a different # in mind. Hope that made sense. Help greatly appreciated!