'Try not to get into more debt before getting a mortgage'

Try not to get into more debt before getting a mortgage

06/14/09 10:52

Planning to make a house mortgage in a couple of months? Then you better not add up on debt before you apply for that mortgage.

Lenders look at the amount of debt that you will have to service every month. Lenders typically set a percentage limit of your monthly income that you can realistically allocate for debt servicing. If this limit is reached, then the lenders will almost surely reject your application.

Link: Avoid adding debt before getting mortgage

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