Boat Loan Example
by on Saturday, September 18th, 2010 | No Comments
There are laws that define what you can and can not finance a mortgage loan, for example, a car, Boat.
If I wanted to finance my mortgage on a house I will buy the bank would allow this?
No. The lender will not allow you to pack a car and / or boat to your mortgage loan. And why do you want? You'd be paying on the car for 30 years so even if the interest rate is relatively low, you still pay more in interest on the car that you bought yourself a higher interest rate for five years. But no, they will not let you attach other items in your home loan.
Personal Financial Planning Tips : How to Calculate Your Net Worth
