2007-08-08 17:24:55 · 4 answers · asked by Mary Ann 1 in Business & Finance ➔ Credit
If your credit is otherwise good enough and you havev enough income to support both the mortgage payment and the debt payment then you can. Of course the obvious question is, since you havev consolidated debts - do you havev lousy credit (or were you always current on the debts meaning your credit is still ok). Anyhow, just having other debt will not stop the bank from lending you $$$, in and of itself.
2007-08-08 17:30:22 · answer #1 · answered by Slumlord 7 · 0⤊ 0⤋
YES. debt is debt. Underwriting guidelines don't care about consolidation. The bottom line is that your debt to income ratio is low, and that you can afford the payment within the guidelines. If you have a 720+ FICO I can show you how to open a corporation first that will draw up to $300,000 in unsecured credit lines to use for your purchase and protect your assets. www.randrfinance.com We help people all day long in any state. If you have a dream we can show you how to fund it on your own.
2007-08-09 02:19:45 · answer #2 · answered by ken p 1 · 0⤊ 0⤋
Sure you can as long as you credit qualify- meaning your credit score is good and your debt ratio looks good. Often by consolidating debt it will lower your monthly payments which in turn improve your debt ratio.
2007-08-09 01:35:36 · answer #3 · answered by yourmtgbanker 5 · 0⤊ 0⤋
no
2007-08-09 00:28:00 · answer #4 · answered by Rana 7 · 0⤊ 0⤋