Did you know that if you presently have a lease payment on a car, even if you intend to pay if off prior to closing, conventional mortgage loans will require the lender to count that debt against you? If this sounds like your situation, let’s talk and figure it out!
Related Article Title: Why do lease payments need to be counted when the lease is nearing its end? Question: The credit report for my borrower is showing a lease payment of $400 and only a balance of $800. They have reserves to pay that off prior to closing and he does not intent to get […]