Quick question: my husband and I took out a mortgage loan and there will be extra money left over after we do everything…
Quick question: my husband and I took out a mortgage loan and there will be extra money left over after we do everything for the house, we want to take a little of that and pay off a small loan to free up extra money (2,000 auto loan) is that aloud?
Lanie Jay·
Мама троих детей
Do you mean the house is less than what your preapproval was? They don't usually give more than the value of the house, why would they since there's no collateral
Amber 🐄🐄··
Мама двоих (младенец)
There is collateral, our land
Amber 🐄🐄·
Мама двоих (младенец)
Yes!! That's what I'm hoping y'all keep your fingers crossed for me plz!
.·
Мама троих детей
I'd pay the loan off, but then keep putting that 700$ every month into a savings account.
Deleted·
Or you can save it just in case some thing comes up.
Maya 🐝·
Мама сына (2 года), беременна (39 нед.)
It depends on the loan. The loan we used they gave us the exact amount it appraised for. But yeah I agree with asking them to make sure.
Amber 🐄🐄··
Мама двоих (младенец)
Okay they told us the amount we wanted was approved and they know it is extra
Maya 🐝··
Мама сына (2 года), беременна (39 нед.)
if they give you extra for the house I’m sure you can do what you want with it. Especially since you have to pay it back anyways lol
Amber 🐄🐄··
Мама двоих (младенец)
@amouryaya09 I hope see it would free up like 700 a month 😏
Amber 🐄🐄·
Мама двоих (младенец)
Yes I going there tomorrow I am just afraid they will say no 😥 the other loan is thru them tho
Deleted··
Or you can put it back towards your house loan and make the amount you owe less?