MOTHERHOODLIFEBALANCE
When thinking about buying a car and a house, there are a few essential factors that you should keep in mind.
Making a vehicle purchase will require your lender to make a hard inquiry. A hard inquiry is when lenders send a legal request to the credit bureau to inquire about your credit score.
Your debt to income ratio is a measurement of how much of your income needs to go towards paying off liabilities.
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.
The answer to the question “how long after buying a car can I buy a house?” will depend entirely on your financial situation.