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Getting car and mortgage

How long after buying new truck should i wait to apply for a mortgage
By nuakasen7y410932 from PA Aug 4th 2014
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If you are shopping for a home loan, I would wait to finance a new car. You want the least amount of debt to increase your chances of loan approval.

Aug 4th 2014

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If you already purchased the truck, and still qualify for the mortgage there is no reason to delay. That payment will be considered in qualifying you for the mortgage.

Aug 4th 2014

If you have already purchased the truck, the payments will be considered in your overall debt to income ratio. If you have not purchased the truck yet, wait until you have discussed your situation with the loan officer of your choice. I would be happy to assist. please e-mail me at pete.bass@everbank.com

Aug 4th 2014

If you have already purchased the truck, you should see if you can still qualify for a mortgage. If you had not already made the purchase, I may have advised you to hold off until after getting a mortgage.

Aug 4th 2014

If you already purchased the vehicle, the new truck loan will now be added to your overall debt ratio. If you have enough monthly income including the new truck loan to qualify for the mortgage loan amount you need, it may not make any difference when to apply. However if your debt ratio's are already close before the new vehicle loan was taken out, you may have trouble getting a mortgage without a significant downpayment. If you'd like a free quote and analysis of these circumstances and how they affect your mortgage loan, please feel free to visit our website at http://www.netequityloans.com

Aug 5th 2014


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