Car loans

So my car loan is keeping me from getting a mortgage. My debt to income ratio is too high. I tried getting a small loan for a mobile home and was denied. I dont think I will ever get my own place. Might be stuck in an apartment the rest of my life.

How much longer do you have to pay on your car?
Can you get a 2nd job or side gig to pay it off faster?
Can you sell the car and buy a very inexpensive one to get you through the mortgage process?

Happy to help if there is a particular question here. How long is the car loan from being paid off? How much are the car payments in relation to your income? There are probably a lot of different avenues that can be taken, try not to let the circumstances define your possible courses of action! There is always a way!

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I bought the car last year. I traded in the car I had which only had 2 yrs to pay off, on a better newer model. So I have a bigger payment and its 6 yrs.

The problem is i make a big chunk of my income in tips and its not on my taxes so the banks wont consider it with my income.

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Yes that causes problems for me as well. I can’t prove thousands of dollars monthly off of tips. No one will recognize them. Then we’ve been shut down and it looks like I am not missing income but I can feel it. It is real money to me.

All you can do is pay down the loan faster or pick up another job with w-2’s. Most loans won’t acknowledge a 3rd source of income either. I keep multiple jobs going at the same time. And I have found that they won’t recognize anything past primary and secondary.

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