- Credit Card
- Real Estate
My wife and I are currently selling our house and intend to finance a new home within the next few months. Would refinancing my auto loan hurt or help our max possible approval?
On one hand, it would lower my monthly payments, allowing more for the mortgage. But on the other, wouldn’t it be a hard hit to my credit score and look as if I just opened a new loan? My original plan was to get the mortgage and then refinance to ease the monthly debt, but now I’m not sure which would help more.
Is there some threshold where one way is more useful, or is it cut and dry?
Any help appreciated.