Can you get a house loan if you get a smallloan to pay off all of your outstanding debt w/th eloan and that is
Question:
Answer:
Debt is debt. Ever hear of debt-to-income-ratio?
If you want to buy a house show some spunk and payoff everything. Then start shopping.
I think as long as you are good standing with yoru current loan, and your credit looks good you should be able to.
Sure you can.
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I always get nervous when I see some of these questions. Not knowing the whole picture it is really hard to give a good answer to the question. On general knowledge, I offer this information.
Talk to a local reputable loan officer first about qualification for a mortgage.
Unless this loan is going to save you money in the long run, get past due bills caught up, and you keep it current, you may just be switching $XX debt for $XX debt. If the debt dollars are the same it may not make any difference unless you are paying off collections, medical bills, or late bills. Total Debt to Income Ratio is a one way calculation.
Now if the loan does provide benefits and payment/rate is reasonable then it can make sense.
Hope this helps.
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