loans

[Deucers]

When applying for a loan (say for a car) can the lender see that you have a mortgage? and how much you pay for that mortgage?

I thought I heard somewhere that they can't see that information, but of course can get all the small stuff like VISA, other credit cards, beacon score, etc.

[G]

If you have a mortgage just get a home equity line at prime. Better than any rate you will get for a car loan. Plus it works like a credit card since you only need to pay interest each month if you run into hard times.

[Weapon_R]

I don't think they can, because it's possible to get several mortgages for different homes without lenders knowing that you have them.

[Traffic_Cop]

Mortgages only show on Equifax if they are in default

[Alex_FORD]

Originally posted by Weapon_R
I don't think they can, because it's possible to get several mortgages for different homes without lenders knowing that you have them.

Is this assuming that some or all of the mortgages are NOT insured by CMHC?

[D. Dub]

Originally posted by Weapon_R
I don't think they can, because it's possible to get several mortgages for different homes without lenders knowing that you have them.

only if you're defrauding the lenders

[Weapon_R]

Originally posted by Alex_FORD


Is this assuming that some or all of the mortgages are NOT insured by CMHC?

Either by assuming or getting a mortgage assumed by those other than CMHC. But it has nothing to do with defrauding lenders...the reason is because they always ask you if you have another mortgage - if they knew, they wouldn't ask.