Posted on: 19th Feb, 2011 07:34 pm
We got a mortgage on our home about 5 years ago. The house was paid for at the time and we needed some cash, hence the mortgage. We are planning on paying the mortgage off soon with some inheritance money and were wondering how soon we could apply for a new mortgage on a different home. We are looking to relocate.
Immediately - No reason that paying one off would stop you
if you apply right after keep plenty of proof that you paid the mortgage off since it may still be reporting on your credit......
if you apply right after keep plenty of proof that you paid the mortgage off since it may still be reporting on your credit......