pipedreamer
Registered User
- Messages
- 16
Hi All
Just wanted to get some opinions guys - I have a salary of 65k (net 3500+ pm) and am repaying a loan of 500 pm - this loan is really affecting the amount I qualify for mortgage wise and I am at a total dead end with this - apparently I qualify for about 200k with the loan and 300k+ without it - I am completely capable of repaying a mortgage of 1200 or so a month (even with the loan) and am really finding this frustrating.
At the moment the balance on the loan is 25k and I have 10k in savings - I know its not ideal but would a way around this be to take a credit union loan against the 10k to repay the bank loan and then apply for the mortgage but not declare the credit union loan - I know some friends have done this in the past and I have always wondered why, I guess now I know - and I know some of the credit unions were changing so that they would still come up on a credit check so this might not even be an option... any opinions? any other way around the loan?
Just wanted to get some opinions guys - I have a salary of 65k (net 3500+ pm) and am repaying a loan of 500 pm - this loan is really affecting the amount I qualify for mortgage wise and I am at a total dead end with this - apparently I qualify for about 200k with the loan and 300k+ without it - I am completely capable of repaying a mortgage of 1200 or so a month (even with the loan) and am really finding this frustrating.
At the moment the balance on the loan is 25k and I have 10k in savings - I know its not ideal but would a way around this be to take a credit union loan against the 10k to repay the bank loan and then apply for the mortgage but not declare the credit union loan - I know some friends have done this in the past and I have always wondered why, I guess now I know - and I know some of the credit unions were changing so that they would still come up on a credit check so this might not even be an option... any opinions? any other way around the loan?