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Q: “I just recently got married. If it is a possibility, I want to get a car and home together at the same time. Can I get a home mortgage and a car loan together?”
- Josh Peterson
A :
Depending on your credit history and income, it may be possible for you get both home and car loan together. Nowadays, there are an increasing variety of different options for car loans, home equity loans, commercial loans, business loans, and leases. Talk to your local bank and loan agents. They probably can offer you a loan option that better suits your circumstances.
Even if you are turned down, don’t feel despair. You may have a better option already available. Don’t forget to consider small lenders too. When shopping around for a car and home loan, community banks, credit unions, and other smaller financial institutions may offer a better deal. Finally, you should not forget about a closed friend and family, especially if they are rich. You may realize that you may not need to take out a personal loan at all.
The most important thing is not to rush into accepting a loan. Do a lot of home work. Shop around for the best interest rate, and make sure that you know exactly how much you are paying for your loan.
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