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what loans allow me to pay off my credit card debt at closing

by nickimblack897 from Gradyville, Kentucky. Jun 12th 2015 Reply


Hello, You are referring to a cashout refinance. There are 3 different mortgage types available depending on your credit score, desired loan amount and estiamted property value. If you'd like advice please reach out to me. I'll let you know your options and the pros/cons to each. Have a great weekend-Brian

Jun 12th 2015
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Jamie Lynne (nationwidelenderforyou)
#142 ranked lender in Texas - 575 contributions

You can payoff your debts through closing with all types of cash out refinances as long as you meet the guidelines. Let's discuss your loan scenario! My number is 800 315 8803 and my name is Jamie. I have been lending nationwide since 1989 and am happy to answer your mortgage questions. Jamie - NMLS 850582 , www.bartprequalifies.com, 800 315 8803

Jun 13th 2015
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,446 contributions

Watchout for incorrect answers.... Until recently, paying off a credit card at closing was fine, but you also needed to CLOSE the account on most loans. Paying off a loan (like a car) was OK too. The revolving debt rule just recently changed for Fannie Mae, so you can now pay off a credit card at closing to qualify without having to also close the account.

Jun 16th 2015
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