How Long After Buying a Car Can I Buy a House? Factors to Consider
When thinking about buying a car and a house, there are a few essential factors that you should keep in mind.
Your Credit Score
Before buying a home, you’ll want to ensure that you have good credit. More specifically, you’ll want to make sure that your credit history is as good
Always try to have the lowest debt-to-income ratio possible (not just because it makes you look more favorable in the eyes of lenders but also because it will help with your finances).
This factor, combined with an additional mortgage, means that you will have a tiny cushion to withstand any shocks to your finances compared to before you made the two purchases.
Does Buying a New Home Affect Your Credit Score?
Though being a responsible homeowner can indeed help you build your credit score your credit score can drop quite significantly.