Re: should you pay off a car loan before mortgage?
Usually that $400 a month will make it easier for them to apply for the loan, but wont affect things like the intrest rate.
I was in the same situation when I bought my condo. WAIT!
Ask your lender what the best thing would be when you apply. For me, the monthly car payment was infringing on the mortgage payment, so I paid the car off. In my situation, the money was better allocated in this way, but every situation is different.
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