Do banks and credit unions allow you to use existing CDamp;#39;s as collateral for a mortgage loan? -

I have a large CD that matures in 2 yrs and was wondering if it can be used as collateral for a mortgage loan. It is size-able and I d like to see it earn the money it was designed to earn but at the same time I may I want to buy a house and right now I d have to use approx 65% of my income to make the monthly mortgage payments (which I think is too high a percentage for the bank to approve a loan). I m thinking if they considered the CD as collateral that they would approve the loan. Am I correct in this?|::::|All you can do right now is submit for a prequalification from someone who isn t going out of business soon. US bank or BofA perhaps and see what they say. According to analysts, a 2nd wave of foreclosures is on us that will last 3 years with 8 million more houses hitting the market. If the CD matures in 2, you may have enough cash to buy a home outright.|::::|Under no circumstance buy where the payment will be 65% of income even if you can get some idiot banker to agree, Save money and never exceed 30-34% of income. No matter how sweet the deal or wonderful the house you simply cannot afford it at the percentage you listed.