Chance for Mortgage Approval

[Craig Risser]

Hello everyone,

Planning to start shopping for my first property in February 2020 and I had a question about lender/mortgage approvals.

Long story short, I took out personal loan of $7,000 in July to cover some unforeseen expenses.

Will a lender see this amount (roughy $6,200 by February) and only allow me to use what I’ve saved up less $6,200?

So instead of $30k they’ll only allow $23.8k?

Thanks for your help.