No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I should be closing on my HELOC within the next week and have been putting off buying a new truck until after the closing. I don't mind using my home equity to improve my house but it would be silly to use it to buy a truck IMO. I'm just wondering if the lender will look at a new truck loan, say within a week of getting my HELOC, as to great a risk. Our FICO scores are currently above 800 on all 3, they will dip after the HELOC but should still be 790's minimum and our DTI ratio will be around 32%.
@Anonymous wrote:I should be closing on my HELOC within the next week and have been putting off buying a new truck until after the closing. I don't mind using my home equity to improve my house but it would be silly to use it to buy a truck IMO. I'm just wondering if the lender will look at a new truck loan, say within a week of getting my HELOC, as to great a risk. Our FICO scores are currently above 800 on all 3, they will dip after the HELOC but should still be 790's minimum and our DTI ratio will be around 32%.
I would wait a week or so after it closes to be sure its all recorded then with those scores I wouldnt even give it a second thought. O a HELOC only what you are using is typically included in DTI not the max available. Welcome to the board
The truck is a secured asset for the new loan, probably the easiest credit to obtain.
If your ducks were in a row for the HELOC they are golden for a truck loan.
Go ahead and get financing prior to shopping for the truck. Plenty of Credit Unions out there to help you out and I imagine the bank that did the HELOC would love to give you another loan as well.
My favorite is PenFed, 1 EQ HP for joining and getting an auto loan (and credit card if you want one).
I agree with gdale6, ensure the HELOC is done and go for your truck loan.