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johnsonromas, Home Buyer in Jonesboro, GA

Help me understand

Asked by johnsonromas, Jonesboro, GA Mon Jun 10, 2013

The same financial bank approved a car loan that added up to $32,000.00 but said no to a mortgage loan from $50.000. I don't understand the standard a home is more important than a car. No I am not buying the car I just don't understand the policy. So I will keep trying because I've never been a quitter Have a nice day

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2
Christina Solorzano’s answer
As mentioned, the requirements for purchasing a home and a vehicle are a bit different. Do you know what your credit score is? Did the bank pull your credit, if so have them give you a copy of your tri-merged report. Many lenders want a 620 and above.

Best of Luck & Have a great day;

Christina Solorzano;
CEO & SR Credit & Mortgage Consultant of
Everlasting Credit Repair
Making home ownership more than a dream...
Retired Mortgage Banker
http://www.everlastingcredit.com
https://www.facebook.com/EverlastingCR?ref=hl
0 votes Thank Flag Link Tue Jun 11, 2013
The standards are different as the way the loans are handled are quite different.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Mon Jun 10, 2013
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