When Should You Buy A House After Getting Your First Car

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When thinking about buying a car and a house, there are a few essential factors that you should keep in mind. After all, you don’t want to have completed the purchases and realize that you unexpectedly can’t make the monthly payments.

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Here are some factors to consider when thinking about how long you should wait after buying your car to buy your house.

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Your Credit Score

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Your Debt-to-Income Ratio (DTI)

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Your Cushion

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The Verdict

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The home-buying process looks very different for different people, and a car payment can also differ by hundreds of dollars every month.

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Swipe Up

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When Should You Buy A House After Getting Your First Car

When thinking about buying a car and a house, there are a few essential factors that you should keep in mind. After all, you don’t want to have completed the purchases and realize that you unexpectedly can’t make the monthly payments.

Here are some factors to consider when thinking about how long you should wait after buying your car to buy your house.

Your Credit Score

More specifically, you’ll want to make sure that your credit history is as good as it can be and that your credit score is in perfect shape.

Your Debt-to-Income Ratio (DTI)

Lenders look at this measurement to determine the loan rates they will apply to the house’s purchase price.

Your Cushion

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 Verdict

The answer to the question “how long after buying a car can I buy a house?” will depend entirely on your financial situation.

The home-buying process looks very different for different people, and a car payment can also differ by hundreds of dollars every month.

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