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Car loan after mortgage

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nelslt
Established Member

Car loan after mortgage

I just closed on my house on 2/24.  How long should I wait before applying for an auto loan? What auto score do most lenders use?

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pizzadude
Credit Mentor

Re: Car loan after mortgage


@nelslt wrote:

I just closed on my house on 2/24.  How long should I wait before applying for an auto loan? What auto score do most lenders use?


There's no need to wait, once you're closed from a mortgage perspective you're good to go.  The new mortgage may or may not help your FICO score when it shows up depending on what other installment loans are showing and your AAoA.   There isn't a standard amongst auto lenders in terms of what score they use, it varies so you should search on a specific lender to get more information. 

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
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