Not exact matches
Before getting into
detail with a
scenario I invite you to watch video in this section about how down payment affects your overall
loan.
These
scenarios are always a case - by - case basis, so talk with your
loan officer and your lender in more
detail about your particular situation and what might be possible.
That depends on the
details which are not specified in your hypothetical
scenario incluing the persons credit rating, what the interest is like on the existing
loan and what the expected time to repay the debt is.
Without getting into too much
detail, these are both new regulatory
scenarios that, generally, require banks to hold more capital to buffer from potential risks on CRE
loans.
Ask your Mortgage
Loan Officer for more
details if your
scenario falls in any of those categories.