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Location: Georgia, on the Florida line, right above Tallahassee
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Quote:
Originally Posted by 2bindenver
1. DON'T .. buy or lease a vehicle. The lender looks carefully at the debt-to-income ratio and a large payment such as a car lease or loan can greatly impact those ratios and prevent you from qualifying. Also, each time an auto dealer or car insurance company checks your credit, your credit rating will be reduced.
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I thought it worked like this..... Am I wrong? If so, it would behoove you not to have multiple mortgage lenders check.......either.
Credit Inquiries: How Credit Checks Affect Your FICO Score - myFICO ....most credit scores are not affected by multiple inquiries from auto or mortgage lenders within a short period of time. Typically, these are treated as a single inquiry and will have little impact on the credit score.
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