Anyone have experience with banks that don't look at TDS?
Come to find out, only one bank after talking to them for 30 minutes literally revealed why the denied happened. Apparently im at %45 TDS Mortgage/Loans only w/ 0% credit card debt. If you have "%55" of income left, why are banks denying you? Sure, maybe because it becomes high risk that you cannot pay back..
In any case, does anyone have experience at banks/dealers who don't look at the TDS or, allow more then "45%" TDS? I am trying to get SXS ATV thats $40K, I have $7500 cash for down which leaves $32,500.00 to pay off.. at 5y loan on their "2.99%" is about a $550-600/month loan which I can definitely afford "Extra".
TD, RBC, DESJARDINS, CIBC all have been hit during this ordeal w/ no approval. I understand this covid thing is around, but I haven't dropped a beat w/ work.