Wednesday, 1 December 2021

Can You Get a Mortgage If You Have Credit Card Debt?

Can You Get a Mortgage If You Have Credit Card Debt?
04 May
3:54

Yes. You can take out a new mortgage for more than you currently owe and use the difference to pay off credit card debt. This is called a cash-out refinance, and in most cases, you can borrow up to 80% of your home’s value. However, military borrowers can tap up to 90% of their home’s value with a cash-out refinance backed by the U.S. Department of Veterans Affairs (VA).

Source: https://www.magnifymoney.com/blog/mortgage/can-you-get-a-mortgage-if-you-have-credit-card-debt/

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