I need to buy a car and refinance my house which should i do first? i have good credit?

Amie
Trying to do this before cash for clunkers expires!

Joey
You are better off refinancing first.however, you can go ahead and make a cash for clunkers deal, by ordering a new car instead of buying one off the lot.the government allows the dealership to process the rebate, using a VIN for a car that is on order. That way, you can lock in your clunker deal, and process the loan prior to taking delivery, and beginning loan payments.

Elida
Talk to your bank or a mortgage loan officer. You would probably want them to check your credit report to refinance your house before adding to your debt by buying a new car. Your credit/debt ratio, as well as the recent number credit report inquiries, would be impacted if you add a car loan.

Latoyia
Unfortunately, you are caught between a rock and a hard place. If you do the car first, you run the risk of messing up the re-fi, as has been pointed out. However, if you do the re-fi first, expect it to take up to 60 days to close, by which time the CfC program will almost certainly have exhausted all funding (and yes, they will pull a late credit check to make sure you are still good to re-fi). You need to look at why you need to do both and pick the one that is needed more.

Denisha
You should try to refinance your home first. If you finance the car first, the car loan will increase your back end ratio which could possibly make it more difficult to qualify for the amount of the mortgage that you can get.