View Full Screen. TROY, Michigan â White remains the most popular color choice for new cars, according to a survey by PPG Industries. The automotive coatings manufacturer recently released data showing that, globally, white accounted for 28 percent of 2014 model-year vehicles, based on manufacturers' build figures.
Many factors are considered, including your monthly income, debts, assets, and current interest rates. After taking your loan application and running your credit, your loan officer will compute the interest rate that you qualify for. Your credit score, the type of property you are buying, and the type of loan program all change the interest rate you will get. In addition they will calculate your debt-to-income ratio (DTIR), which is calculated by dividing your monthly income by your monthly payments. A good debt to income ratio will be below 40% - although many loan programs allow for slightly higher ratios.
Keep an eye on DTI. Howard says debt-to-income ratios are an important element in a loan approval. This ratio compares minimum monthly payments on all debt to gross monthly income. If your debt-to-income ratio is over 50 percent, you need to pay off your debt before even thinking of buying a home, Howard says.