OurBroker Logo
Have A Consumer Real Estate Question?  Please Press Here.
Can Mortgage Lenders Ignore My Monthly Auto Costs? : Mortgage Loans, Rates, Home Buying, Selling, Foreclosures
RealtyTrac

Can Mortgage Lenders Ignore My Monthly Auto Costs?

August 31st, 2008   By Peter G. Miller   Print Print   Follow On Twitter Follow on Twitter  
feature photo

Question: Is there any way that auto payments will not reduce my ability to qualify for a loan?

Answer: Yes.

You MUST tell lenders about all outstanding debt and payments. In the case of an auto loan or other installment debt, some loan programs will not count the debt against qualifying ratios if there are only six to ten payments remaining.

Please speak with lenders for details.

Share and Enjoy:
  • Facebook
  • MySpace
  • StumbleUpon
  • Technorati
  • Reddit
  • Digg
  • del.icio.us
  • Slashdot
  • Google Bookmarks
  • Tumblr
  • NewsVine
  • Yahoo! Buzz
  • MSN Reporter
  • Yahoo! Bookmarks
  • LinkedIn

Post to Twitter Tweet This Post

Technorati Tags: auto, car, exception, months, mortgage, payments, qualification

Have a real estate question for newspaper readers nationwide? Financing? Buying? Selling? Foreclosures? Press here to ask your question.

Print Print
Related Links

Post a Response