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What if the bank finances you for too much and you cant afford your loan?

Whitney Matthews

in Student Loans

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Whitney Matthews on February 11, 2018

I do not agree to the loan. You are not required to financing for the maximum amount a bank is willing to lend. Tell your banker how much you can afford to borrow and/or the monthly payment for the amount that you are comfortable with. Let your banker's then the job of a loan that works for you. Of course, if you buy something that requires a larger loan that you can afford - you better re-think your purchase, or have the money to apply to the purchase so that you do not have to borrow more than you can afford.

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