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New Contributor
thorice
Posts: 54
Registered: ‎06-23-2007
0

Payoff question please help.

I plan on buying a home in 11months. I owe 13,000 on my car. When I pay all of my monthly bills I have $1800 remaining. Do anyone think it would be a good idea to save this money or payoff car first and have more money for a better mortgage amount. Thanks for any and all advice.
Super Contributor
ShanetheMortgageMan
Posts: 8,254
Registered: ‎09-28-2007
0

Re: Payoff question please help.

If your interest rate on the car note is low then I'd save the money... your loan officer can always run both scenarios - one paying off the car & one without paying off the car and having the money instead.  But if you pay off the car, then there is only one scenario they can run for you.

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