I currently own a home with a loan to value of about 111%. I am waiting for the release of the new 125% ltv Making Home Affordable guidelines, so I can qualify for refinance. However, I am also in need of a new car, especially before the winter weather is really upon us. If I get the new car, with a moderate loan amount, will the new debt hurt my refinance options with the government? I have excellent credit and no other monthly debt to speak of. I can make the monthly mortgage payments, but it sure would be nice if I could get them lowered.
Will getting a new car hurt my mortgage refinance plans?
- Thread starter Brenda
- Start date