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Standard advice is not to apply for new credit in the year leading up to a mortgage application.
Howver, if you have a lendor in mind for the mortgage and a pressing need for other new credit, you might give them a call and ask whether an intended application will negatively affect their underwriting process.
In general, I would forgo any new apps unless or until you get word from your prospective mortgage lendor that it will not affect your app with them.
@RobertEG wrote:Standard advice is not to apply for new credit in the year leading up to a mortgage application.
Howver, if you have a lendor in mind for the mortgage and a pressing need for other new credit, you might give them a call and ask whether an intended application will negatively affect their underwriting process.
In general, I would forgo any new apps unless or until you get word from your prospective mortgage lendor that it will not affect your app with them.
Thank you, I figured I should just chill out
Total CL: $321.7k | UTL: 2% | AAoA: 7.0yrs | Baddies: 0 | Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping |
On top of what was already said, you are limited in your mortgage amount by percentage of monthly income for all payments. If you sign on for a big car loan, the payment detracts from the total mortgage payment you would be approved for.