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Updated almost 3 years ago,
Pay of debt with proceeds from current home sale before close?
*off
I have a sale contract and looking to buy a new home, using part of the proceeds as down payment. I also have a personal loan that I want to pay off and will also help with DTI. For approval, is it possible to sign some attestation that I will payoff the loan with the first sale then arrange for it to be paid between the close of the first home and the next purchase (will actually have to do this and show the lender or is the attestation enough, or will they somehow arrange it at escrow)?
Thanks!