2007-07-23 11:36:52 · 3 answers · asked by james_jones761 1 in Business & Finance ➔ Personal Finance
Depends on if you owe a lot and if you've been current with your payments. If you show that you are responsible and have made your payments on time, this will actually help you. If not, then you might need to work on your payment schedule and improve it before thinking of getting a home loan.
2007-07-23 16:21:15 · answer #1 · answered by prprincess 4 · 0⤊ 0⤋
Any financial obligations that you already have would be taken into consideration when assessing the amount of mortgage you can afford to pay, since that is a part of your income that is already committed.
If your school loan is in default, it would affect your credit rating.
2007-07-23 18:42:41 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
its one of the questions they ask at the beginning of the prequalification process. not in any particular order but along the lines of: have you ever declared bankruptcy, are you paying child support, are you or have you ever been in default on a federally funded school loan etc, etc, etc.
2007-07-23 18:45:34 · answer #3 · answered by Anonymous · 0⤊ 0⤋