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Buying a house and car loans
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Maddie180
LIF Adult
Member since 2/07 1992 total posts
Name:
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Buying a house and car loans
I would like to buy a house within the next year or so... As far as credit goes, is it a bad idea to refinance car loans if you want to buy a house? I know when I bought my condo, my mortgage broker said not to do a lot of things because it would affect getting a mortage, but wasn't sure about refinancing car loans. Thanks!
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Posted 9/30/11 9:00 AM  |
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JandJ1224
Member since 6/06 5911 total posts
Name:
Jannette
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Re: Buying a house and car loans
it will most likely effect your credit but I would think should be clear in a year from now. If anything it would hopefully bring down your payments and help with your debt to income ratio.
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| Posted 9/30/11 9:17 AM |
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LittleDiva
LIF Adult
Member since 9/11 1284 total posts
Name:
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Re: Buying a house and car loans
i know each time your credit is pulled it affects your score. i would call your mortgage person and ask them.
mine always said when you KNOW you will be buying a house soon, dont make major purchases until afterwards bc it affects your debt to income ratio.
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| Posted 9/30/11 9:23 AM |
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Maddie180
LIF Adult
Member since 2/07 1992 total posts
Name:
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Re: Buying a house and car loans
Thanks for your replies! I'm really not sure when I would buy a house, so I haven't talked to anybody just yet.. I would just love to save money to put towards a down payment, but I want to if it will affect the mortgage. Thanks for your help!
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| Posted 9/30/11 9:30 AM |
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