Can a Car Loan Prevent You From Getting a Mortgage?
You probably never thought that purchasing a new car could impair your ability to get a mortgage for a home. It’s one of several moves that you should consider carefully before applying for a big loan.
Mortgage lenders will be taking a deep dive into your financial history to make sure you can handle the payments, and a large, newly acquired debt load will weigh against you. So if you’re serious about buying a house, think carefully before going fast and furious on a car purchase that requires a loan.