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Last time I got a loan they asked me about my rent/mortgage (and utility!) payments so they could subtract that amount from my take-home pay when determining th
by c22 3y ago
Last time I got a loan they asked me about my rent/mortgage (and utility!) payments so they could subtract that amount from my take-home pay when determining the risk of me defaulting on the loan. They seemed to assume I'd be paying my rent first and consistently regardless of any other debts I'd accrued.
- HWR_14 3y agoI think that's a valid assumption. That's also why it's easier to get a mortgage on your primary house instead of an investment property.