I took out an Auto loan in Sep 2020 of about $32k. I plan on getting prequalified for a mortgage by Mar 2022 to buy a $2MM home. Should i pay off my auto loan in full (of which about $16k remains) before applying for the pre-qualification/mortgage? Why/why not?
Current credit score 760. Other than the auto loan i just have a revolving credit utilization of about 5%.
Edit:
TC: 450k thanks to stock appreciation. Spouse: $110k
NW: $1.2MM. Spouse: $200k
#mortgage #housing
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NW: $1.2MM + Spouse: $200k