Lately, we received an email from Nong Min who is currently paying 10,000 baht (roughly US$318) for her monthly car payment. Nong Min would like to buy a house for herself but she is facing some difficulty to obtain a new home loan because the monthly car payment has taken up nearly 1/3 of her monthly income. At the same time, she doesn’t have much savings to pay the down payment for the house. She is seeking for some advices after reading one of our previous articles “Refinancing car loans …

If one has thought about refinancing car loans into home loan, it has proven that he or she has pretty enough smart juice in the brains to look for loophole in our life. This is part 2 of 2. Click here to see part 1 and a successful case study 1.

If one has thought about refinancing car loans into home loan, it has proven that he or she has pretty enough smart juice in the brains to look for loophole in our life. Mortgage loan or home loan is always 20 or 30 years or even more, but all kind of car loans are usually less than 10 years even the $1.5 million Bugatti Veyron. Have you thought of why? This article has two part, you can also read part two here.

Car leasing always has direct affects to home mortgage qualification. This is because the loan amount allowed for any mortgage is depending on the borrower’s monthly income. If a huge part of the monthly income has gone to car leasing, the chances to get bigger loan amount is lesser.