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Home » Loans

How would a CAR LOAN affect my HOME LOAN later?

Submitted by on August 19, 2010 – 1:28 pmNo Replies


Zipfly asks:
My wife and I have no loans on cars and no apartment (owned) yet. We want to buy a new car and finance it. How would that affect our home loans (in, say, 6 months)? Do the banks prefer you to have as little debt as possible, or would the car loan be good for our credit because we will be paying the financing on a regular basis for the next half year? We both have great credit ratings.

Appreciate any advice.

Can you help out?

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