Will business loan affect mortgage?
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Business loans can affect mortgage applications in several ways. First, if the loan is for a large amount of money, it could increase the debt-to-income ratio, making it more difficult to qualify for a mortgage. Additionally, business loans typically have higher interest rates than mortgages, so the monthly payments could make it more difficult to afford a mortgage payment. Finally, if the business loan is secured by collateral, the lender may require that the property be used as collateral for the loan, which could make it more difficult to obtain a mortgage.