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Firts time home loan with open personal loans?

Carloscda40
Regular Contributor

Firts time home loan with open personal loans?

I was planning on buying a house from my neice. Are you allowed to have any open personal loans? Even if it's like 5k?

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ShanetheMortgageMan
Super Contributor

Re: Firts time home loan with open personal loans?

You can absolutely have personal loans.  The monthly payment will be included in your debt-to-income ratio to determine how much you can qualify for.

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