Question Details

Michael R, Home Buyer in Lewisville, TX

What is best 2 have? $5000 more n savings or $5000 less n debt - 2 pay car loan off or have more in savings?

Asked by Michael R, Lewisville, TX Sun Apr 13, 2008

what do the lenders care more for; more money in savings or a lower monthly debt ratio. me and my wife will be first time buyers. car payment is $240 a month and would take ~$5000 to pay off. also would paying her car off help our credit score or hurt it, she is the buyer and i am the co-buyer?
thanks for any and all help.

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