Heather C asked:


When you apply for a mortgage do lenders look at your total outstanding balance on a car loan or your monthly payment for the loan? I ask because we have a $465 payment and are wondering if we should refinance or trade the car in for something else in order to bring down the monthly payment as we are getting ready to apply for a mortgage.

Chad

Ana C asked:


Am applying for a mortgage loan and have two school loans already on my credit report but specify one is not in repayment and second is deferred. However, the loan application is requesting all expenses listed on my credit report. Are these loans not in repayment included in my expense ratio?

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