Can CC debt be consolidated into an FHA loan? (credit card, financing, purchase) - Mortgages -Lenders, loans, financing, rates, foreclosures, short-sales, brokers, credit score, deed, lien, refinancing, borrowers - City-Data Forum

DelTronXR · 08-12-2010, 08:42 PM

That's my main question. I've got $12K in credit card debt. So let's say I wanted to purchase a condo for $170K. I'd be putting $5950 (3.5%) down and financing $164,050. Would it be possible to up the purchase price by that $12K to $182K, put down $6370 and then use that $12K to payoff my balance? Any feedback appreciated.

Thanks

Brandon Hoffman · 08-12-2010, 09:29 PM

DelTronXR · 08-12-2010, 09:32 PM

Thank you for the answer. That's what I wanted to know.