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  • January 5, 2009 at 1:49 PM #324655
    donaldduckmoore
    Participant

    I do not think it has any significant impact on your score. Besides, you are paying 50% downpayment and no lender would resist buyers like you.

    January 5, 2009 at 1:56 PM #324160
    (former)FormerSanDiegan
    Participant

    Getting a car loan immediately before getting a mortgage is not a great idea. Your credit score will drop a bit and your debt ratio will be higher.

    When I obtained a car loan 3 years ago I watched my credit score drop about 40 points to about 740. It took 9 months or a year to get back t where it had been.

    If you are still 12 months away, it does not really matter much on your score, but impacts your DTI ratio. If you will be purchasing at low DTI anyway (e.g. 25%), then the only thing to consider is your score.

    January 5, 2009 at 1:56 PM #324493
    (former)FormerSanDiegan
    Participant

    Getting a car loan immediately before getting a mortgage is not a great idea. Your credit score will drop a bit and your debt ratio will be higher.

    When I obtained a car loan 3 years ago I watched my credit score drop about 40 points to about 740. It took 9 months or a year to get back t where it had been.

    If you are still 12 months away, it does not really matter much on your score, but impacts your DTI ratio. If you will be purchasing at low DTI anyway (e.g. 25%), then the only thing to consider is your score.

    January 5, 2009 at 1:56 PM #324561
    (former)FormerSanDiegan
    Participant

    Getting a car loan immediately before getting a mortgage is not a great idea. Your credit score will drop a bit and your debt ratio will be higher.

    When I obtained a car loan 3 years ago I watched my credit score drop about 40 points to about 740. It took 9 months or a year to get back t where it had been.

    If you are still 12 months away, it does not really matter much on your score, but impacts your DTI ratio. If you will be purchasing at low DTI anyway (e.g. 25%), then the only thing to consider is your score.

    January 5, 2009 at 1:56 PM #324579
    (former)FormerSanDiegan
    Participant

    Getting a car loan immediately before getting a mortgage is not a great idea. Your credit score will drop a bit and your debt ratio will be higher.

    When I obtained a car loan 3 years ago I watched my credit score drop about 40 points to about 740. It took 9 months or a year to get back t where it had been.

    If you are still 12 months away, it does not really matter much on your score, but impacts your DTI ratio. If you will be purchasing at low DTI anyway (e.g. 25%), then the only thing to consider is your score.

    January 5, 2009 at 1:56 PM #324660
    (former)FormerSanDiegan
    Participant

    Getting a car loan immediately before getting a mortgage is not a great idea. Your credit score will drop a bit and your debt ratio will be higher.

    When I obtained a car loan 3 years ago I watched my credit score drop about 40 points to about 740. It took 9 months or a year to get back t where it had been.

    If you are still 12 months away, it does not really matter much on your score, but impacts your DTI ratio. If you will be purchasing at low DTI anyway (e.g. 25%), then the only thing to consider is your score.

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