Buying A Home
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Should we get a new car before starting mortgage stuff?
DH and I have started looking at getting a new house. We have yet to get a preapproval or even look at mortgages. DH's car is acting up and we are thinking about getting a new (used) car for him. I know I have read it is a better idea to not get a new car before your mortgage closes, but will it really affect us that much if we have not even started that process yet?
Re: Should we get a new car before starting mortgage stuff?
We bought a car right around the time we started looking (no choice, DH's car was totalled). It wasn't a problem for us but then again, by the time we actually went under contract, it had been almost 6 months. As long as you can explain any large deposits to or withdrawls from your accounts within that last 2-3 months before you go under contract, you'll be fine.