Sunday, May 17, 2015
Buying a car before a house?
I bring in about 4k a month after taxes (6k a month after taxes for two months a year), I am 30 yrs old and have excellent credit, 775 on my capital one credit report and 805 on my discover fico credit report. I have just paid off my student loans and I am debt free. I want to buy a new home next spring, but was interested in buying a car soon. I was looking at about a $500 to $600 a month payment. Will this effect my credit score negatively? I feel it wouldn't because of my income and good credit but am unsure.
Anyone with experience know if getting a new car would hurt my credit or chance of a mortgage? I was thinking of a 30 yr loan with a 250k max budget.
Thanks.
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