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Rant: My lender said my DTI was too high for a cash-out, but paying off my car loan with the cash first actually got it approved.
I had a 48% DTI and needed $25k for a kitchen, so I structured the refi to immediately pay off my $15k auto loan. Has anyone else used the cash to directly lower their debt ratio like this?
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paul_owens252d ago
Wait, didn't paying off the car just lower your DTI for the approval?
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joelp811d ago
My guy just unlocked the secret cheat code.
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