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Payoff question please help.

New Contributor

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.
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Super Contributor

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.
Mortgages (FHA, VA, USDA, Fannie, Freddie, Non-Prime, Construction, Renovation/Rehab, Commercial Multifamily) since 2002
In Irvine, CA and lending in all 50 states

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