What will a new auto loan do?

[avigeant83]

I currently have 12 months left with my current car but would like to upgrade to a SUV since I have a little one in the picture. Will this hurt my chances of getting a mortgage? Since my score is just at 620 at the moment. Thanks for the help.

[Anonymous]

I would suggest no new apps for anything within 6-12 months of a mortgage. Looking at your other thread, it seems like your timeline is fairly soon. I would wait until after you close on the house. Then....go crazy.

Congratulations on your little, BTW.

[signguy17]

we just bought a car in April for our 36th wedding anniversary gift.  It's a 2010 Explorer.  My EQ was 651 and after the timerline posted about 2 weeks later it fell 7 points.  But its my only installment so I think after a couple timely payments it will creep back up.  I have a mortgage and 2 CC that I keep at like a 5% util around payment time so the payment doesn't stress me..