Posted on: 16th Jul, 2013 12:17 am
My wife and I are planning to buy a home. We are presently renting a property. We have a student loans and a auto loan as our debts. Will we be able to get a mortgage with these loans in our credit report?
It will be rather tough to get a mortgage with such loans. You better try to repay all those loans so as to reduce your DTI ratio and thereby get a loan within your affordability.
Hi Guest,
There are various factors which needs to be taken into consideration when you apply for a loan. You can get a mortgage even though you have an auto loan and a student loan provided you meet all the other required criteria of the lender. It will be better if you could apply for a loan with the local lenders. They will check all the details and let you know whether or not you will get a mortgage.
Thanks,
Jerry
There are various factors which needs to be taken into consideration when you apply for a loan. You can get a mortgage even though you have an auto loan and a student loan provided you meet all the other required criteria of the lender. It will be better if you could apply for a loan with the local lenders. They will check all the details and let you know whether or not you will get a mortgage.
Thanks,
Jerry