Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
Refinancing school loan and down payment for a house?
Within the past 12 months I refinanced my school loan maybe about 6 times each time while getting a better rate. I started at 4.25% now down to 3.05% how does it affect purchasing a home in terms of credit history? Also I have been doing the Covid 19 natural disaster forbearance past 6 months mostly to increase my checking account for a down payment of a house /(emergency savings). Would this hurt my application? My credit score is excellent now
2 Answers
- A HunchLv 72 months ago
Your issue is that you haven't held the pharmacist job for 24 months, which means unless you are eligible for a special program like doctors, you probably aren't eligible to get a mortgage yet (or not one based on your current salary).
- DON WLv 72 months ago
The problem as I see it is that you are still carrying the school loan. Refinancing is nice, but but don't say anything about the speed at which you are repaying it. When looking at your mortgage application, they will see the school loan, which may make them reject your application if the combination of the school loan and the mortgage, when compared to your annual income (which you don't mention) would make the mortgage unaffordable to you.
