Thread: TERI and Vehicles

I have a question about TERI loans- I am paying a car note, and I still have 10K left to pay on the car. Will TERI deny me because of my car loan? Do I have to pay down to a certain amount? How does that work? I remember seeing an earlier post that you can't have mortgage which is why I pose this question. Also, what about if you have loans from undergrad? Will this bar you from receiving a TERI loan?

On a related subject, what does Teri do with mortgages?

depends on whether you're gonna use a co-borrower or not. if so, then they'll look at the co-borrower mostly. if not, i'm not sure what exactly they look at. as for undergrad loans, I have about $150,000 in undergrad and chiropractic school loans, and they haven't said that was a problem.

chris

Car loans, etc do not matter so long as you have not made late payments.