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jfd19
Joined: 26 Jan 2010
Posts: 1
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| Posted: Tue Jan 26, 2010 12:05 am Post subject: Mortgage for higher than price of house |
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| Can i get a mortgage for more then the price of the house? i/e - the house is 240000 for example. could I get one for 300000? I would like to use the extra for to pay off a credit card. It would be seen on my credit. I would like to use the money pay it off so i won't have to worry about it while paying the morgage. i appreciate any response. |
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David
Joined: 19 May 2004
Posts: 754
Location: Atlanta, GA
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| Posted: Tue Jan 26, 2010 1:00 am Post subject: |
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| Not easily. Most likely your would need excellent credit and a sizable down payment. Where you might get lucky is if the house appraises very high. Then you might be able to work out some concessions, though that gets pretty tricky too. |
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jhonny07
Joined: 31 Jan 2010
Posts: 10
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| Posted: Sun Jan 31, 2010 7:25 am Post subject: |
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| This would depend on the loan company wherein you had applied for a loan well I think it won't be a nice idea to pay debts by making another one |
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TimtheMortgageGuy
Joined: 16 Jan 2008
Posts: 96
Location: Rosemount, MN
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| Posted: Thu Feb 04, 2010 9:15 pm Post subject: Re: Mortgage for higher than price of house |
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jfd19 wrote: Can i get a mortgage for more then the price of the house? i/e - the house is 240000 for example. could I get one for 300000? I would like to use the extra for to pay off a credit card. It would be seen on my credit. I would like to use the money pay it off so i won't have to worry about it while paying the morgage. i appreciate any response.
Definitely not. |
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MrPink1130
Joined: 11 Feb 2010
Posts: 17
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| Posted: Thu Feb 11, 2010 4:16 am Post subject: |
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| Yeah, I'm with Tim on this......It's just NO |
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joe1
Joined: 11 Nov 2008
Posts: 20
Location: California
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| Posted: Wed Apr 28, 2010 7:29 pm Post subject: |
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| No |
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