CALLING ALL REAL ESTATE AGENTS OR MORTGAGE BROKERS!!?
Thursday, 15. July 2010
Hi,
I am looking into buying a house in the next six months, but I still have around 15 thousand of debt. But I own a mobile home I am looking to sell. But assuming I don’t…what are the chances of me getting a home with that much in debt. My credit is in the mid seven hundreds and i make a little over 5000 a month.
My main question is, can i get a mortgage loan for more than the home to consolidate my debt. I don’t even know if it’s possible. It would be so nice to be able to not worry about the interest on my credit cards and just pay my home loan….or would i need equity? Just a question.
Beverly S Says:
Sorry but you can’t borrow more than the puchase price. On most loans you can’t even borrow the full purchase price- you need money down. Depending on what your monthly payments are though you may qualify anyway. It may be hard to sell the mobile home because very few lenders are lending on them these days.
Celeste Says:
about it you can get information from here http://topfin4.notlong.com/7AAFW77