Posted on: 27th Mar, 2009 05:45 pm
i would like to get a mortgage. is it possibly to add my credit cards balance to the mortgage?...sice the motgage APR has dropped, I would like to get a morgage, but I have some credit card balance. How it will effect therate, and if it is possible to add the credit cards balance to tp the mortgage?
thank you
thank you
guest: my response is "maybe"
You tell the bank clearly and present him your last outstanding of credit card and allow the bank to close the balance with the mortgage amount you will recieve and you recieve the balnce morgaged amount.
hmmmm...
I am still scratching my head chtnggd. You dont write children's books do you?
OH LORD! i sure hope not!
Hehe yes this is quite a puzzle lol i have never heard of this either.... It might be true i just have never seen this been done or heard of it..
Hi Guest,
I don't think you can add your credit card balance to the mortgage. but if there is enough equity in the property, you can get a cash-out refinance and pay off your credit card debt.
I don't think you can add your credit card balance to the mortgage. but if there is enough equity in the property, you can get a cash-out refinance and pay off your credit card debt.
uhhh....what?!?!?!
That's more than sensilbe! That's a great post!
We relocated to another state for work. Our house back in GA never sold so we have successfully rented it for three years. We have equity in this house. Is it possible to borrow some money from our home equity line? We don't need much and would only consider taking between $5-$8K for down payment and closing costs if needed. Is this possible??
My husband and I have about 4500 K saved up cash. We don't want to take any money from our Roth or 401K's. Our debt to income ratio is about 32%, our income is $95K. My credit is 690, husbands is 780. We are nervous about owning TWO homes so are buying a small house. We are looking to borrow $145 - $150K. Based on this very general information, could we qualify to get the amount we need? What would hold us up? I am tired of APT living!
hi monica,
as you have equity in the property in ga, you will be able to take out a home equity loan using that property as a collateral. your husband has a very good credit. it will help him to qualify for a conventional loan easily. however, with your credit score, you may not be able to qualify for a conventional loan. nevertheless, you should have a word with your lender and check out if he will let you be one of the co-borrowers for the loan.
thanks
as you have equity in the property in ga, you will be able to take out a home equity loan using that property as a collateral. your husband has a very good credit. it will help him to qualify for a conventional loan easily. however, with your credit score, you may not be able to qualify for a conventional loan. nevertheless, you should have a word with your lender and check out if he will let you be one of the co-borrowers for the loan.
thanks