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Updated almost 8 years ago, 12/06/2016
Can I get a mortgage on a paid for house I just had built
My wife and I sold a business and moved to Florida where we bought 5 acres and had a house built for roughly 220000 for the house and 35000 for the land. We moved in about a month ago. I got a new job about 3 months ago I only make about 2000 dollars a month. We have a 550 dollar car payment and no other debt. We paid cash for the house. We will owe about 40000 in income tax from the sale of the business. We owe 22000 on a car and we would like to have a driveway built that will cost 11000. we would like to get a 75000 mortgage on our house which is valued between 250k and 300k to pay the taxes car and driveway off) We bothe have good credit (750 - 800) can we do this? I red somewhere about having to wait six months. Is that true. Please provide info if you can thanks in advance