What should we do 1st refinance the house or purchase a new car?

Jacquelyne
Right now, we do not have any car payments, just minor credit card debt. My wife's credit score is close to 700 and mine is right around there as well. Is it best to try to refinance our house 1st, then get a loan for a new car or the other way around?

Julienne
Refinance your house first as this will lower your debt to income ratio. If you but the car first it will increase your debt ratio and may effect your mortgage approval.

Leonida
When it comes to finances, the only sound advice you can receive is from a financial advisor, your bank, accredited financial websites...I would never ask for advice from random people. You will get really varied advice, that is not usually based on a professional standpoint. Yahoo! Answers is great...but not to guide you on your financial journey. :o)

Latrina
Yeah, good idea to refinance the house, because that is the most important thing.