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It’s pretty easy to take out the maximum if you’re trying to buy a home without contingency on selling your previous one. Since only the monthly payments really
by denimnerd42 4y ago
It’s pretty easy to take out the maximum if you’re trying to buy a home without contingency on selling your previous one. Since only the monthly payments really matter towards qualification you could be 90% paid off on your first mortgage and still need to work around the DTI limit for your second. When you sell your first everything becomes comfortable again.
- maxerickson 4y agoRight, I wasn't saying "I can't imagine a scenario where taking out the maximum would be an acceptable short term decision", I was saying "I can't imagine buying a house with the plan to make the maximum payments I qualify for over the long term".