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Personal Finances / Buying or Selling a Home


Subject:  Re: Debt-to-income ratio if self-employed Date:  2/12/2013  1:19 PM
Author:  holhealthprac Number:  124740 of 128866

It would be a lot of work to stop using credit for all of my regular business expenses. Right now, all of my monthly business expenses are automatically charged to the business card, earn at least 1.5% cash back, and the balance is automatically paid in full on the business credit card due date. I'd rather not write all of those checks or give those companies permission to autodebit my business account, so 100% cash only is probably not realistic for me.

If I stick with 1 personal card and 1 business card and pay down the balances regularly through the month, I can probably get my average balance below $150/month. That's a huge change from $1500-2000 which is typical for me since I usually wait until the due date to pay.

So I wouldn't be able to get the best bargain basement rate, but I should be able to meet the 40% DTI number to qualify for a good rate.
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