Quote:
Originally Posted by FlamesAddiction
Having just sealed the deal on a house andd going through a crash course on this, I still won't pretend to be an expert, but I will say that our broker told us that car payments are often an issue for people getting the mortgage that they want.
I will also say that you should be careful somewhat. They approved me for much more than I personally think I could comfortably pay off. My debt load ratio is fantastic, but my month to month spending habits are not. Banks and brokers obviously can't see these things on a computer screen.
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Which is always the borrowers responsiblity. I always tell people borrowing money to make sure they've not borrower as much as they can because rates can change, your payments will be higher at renewal and being house poor sucks A$$! That said, in the end the borrower usually does what they want.