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rck9058

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will it affect my credit score to refinance my auto before purchasing a home
I am trying to buy a house, my credit score is 631. Will my credit score be affected negatively is i refinance my auto loan right before starting the mortgage process.

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You betcha

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Any time you extend new credit your score is going to change.  If you are working on purchasing a home, I'd focus on getting that done first.  It is especially important not to apply for new credit once you've put in an application for a mortgage as any changes in your credit can cause the underwriter of the loan to reassess your entire applicaiton.

If you want to get the house and refinance the car, submit the application immediately after closing on the home mortgage. 

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I would ask your new potential lender to make sure you're doing the right thing. 

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