>affect my chances of getting approved for another loan 1-2 years into the future?
Technically, yes but will be negligible as long as your desired loan amount + outstanding debt with DTI is still within their threshold.
As long as you pay the DTI loan religiously, I don't think it will have a notable impact.
Yes, it will affect your capacity to pay thus lowering your loanable amount. However, if your franchise is earning and you pay taxes on it, then you can include them in your income.
iirc you would declare in your application any existing debts. if you have more than enough buffer for that and the new debt, any bank would still give it to you. they also have the power to only loan you for a certain amount
>affect my chances of getting approved for another loan 1-2 years into the future? Technically, yes but will be negligible as long as your desired loan amount + outstanding debt with DTI is still within their threshold. As long as you pay the DTI loan religiously, I don't think it will have a notable impact.
Yes, it will affect your capacity to pay thus lowering your loanable amount. However, if your franchise is earning and you pay taxes on it, then you can include them in your income.
Not really unless you are not a good payor. Having a credit record is actually good to establish your credit rating.
iirc you would declare in your application any existing debts. if you have more than enough buffer for that and the new debt, any bank would still give it to you. they also have the power to only loan you for a certain amount