when applying or a mortgage loan can you add a $3,000. consolidation loan on it.

Asked by Linda Mccormick, San Antonio, TX Fri Feb 17, 2012

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Jim Simms, Mortgage Broker Or Lender, Louisville, KY
Tue Feb 21, 2012
The payment on $3000 should not kick your ratios out of qualifying, if it does, look internally first.
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Annette Levi…, , New York, NY
Tue Feb 21, 2012
You cannot add a consolidation loan into your mortgage. You can put a lower down payment on a house (if you qualify) in order to pay your $3,000 loan.
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Brian Paris, Agent, San Antonio, TX
Tue Feb 21, 2012
I have not heard of any mortgage programs that also allow for debt consolidation. If your Debt to Income ratio is too high, that (usually) needs to be addressed prior to the lender approving the loan. NOW, if you have been contributing to your employers retirement program (401k), you may be able to borrow from it and reduce your interest rate. considerably.

Hope this helps!

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