O.k is there a financial adviser here? Can you apply for a mortgage loan and student loan at the same time?
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o.k I'm about to buy a house ( me and 2 sisters) we are waiting for the bank to respond, but I want to enroll in this B.A program which will cost me 30k I need to do it before july 25th because the price for this course will increase next month, I don't know if the mortgage loan will affect the student loan because I need to get financial aid. Should I apply for the Student loan, without worrying about the mortgage loan which is in Process right now? or should I wait for the approval of the house and the apply for the student Loan? Please I need an answer time is running fast.
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Answer:
It's not so much school it's all about your debt to income ratio. ...so even if you weren't in school but had the same amount of debt in credit cards...loans...etc... you'd still have to be able to prove you can servie the debt. Since the mortgage responsibility is being split 3-ways that will make each individuals load lighter. The bank is going to respond before July 25 and you can apply AFTER you get the mortgage. Don't increase your debt to income ratio for such a high amount $30K is way too much and your credit is going to take a hit. Definetly wait for the house approval and have your student loan documents all filled out and ready to go afterwards.
Not Of This World - N.O.T.W - at Yahoo! Answers Visit the source
Other answers
you can do it now as the lender already has your credit
golferwhoworks
just go to ecashoffers.com
Sam
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