Will Refinancing My Car Affect Me Buying A House. While the notion is nice, most lenders will not allow you to use this money. The lower your ltv, the better.
Your new auto loan will be part of the new dti calculation when lenders analyse your mortgage application. So, if you’re paying $450 per month on a new vehicle, lenders will use that payment. Once you have that new loan, even if the payment is lower and interest rate is lower, the established old debt is paid off and eventually loses the positive impact to your credit scores.
The lower your ltv, the better. Yes, it is okay if you decide to rent out the home and buy a new primary residence regardless of when you took out the new mortgage on your current home. Lease payments are typically lower than loan payments, but at the end of the lease, you'll either need to buy the vehicle, turn in the vehicle and walk away, or start a new. Perhaps 30 days will be plenty of time for that to update, and it should update in.
