03-17-2009 08:57 AM
03-17-2009 09:01 AM
How will the added payment affect your DTI ratio? This plays an important part of being qualified for a home.
03-17-2009 09:11 AM
If it were me and there was any possible way that you could wait until after you got the mortgage, I would.
When I spoke to a LO at BoA last summer, just getting some estimates and feel for things, she said they wanted to see that I hadn't take on any new debt in the last 90 days(I think). However, this could have been because if my DTI, my credit, etc. Any number of reasons.
I wouldn't risk it, but you have to do what you have to do.
Possibly move the mortgage and do that sooner?
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