re: Mortgage qualification

quote:

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The thought of spending almost half of my salary on mortgage makes me uncomfortable. I guess the estimators I was using probably were accurate, and I'm just not one of those people to buy the biggest house I can qualify for, but rather one that I can afford. I just assumed the estimates were wrong. Thank you all for your guidance. I am glad to know I don't need to rush and pay the car off

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I'm more knowledgeable about the effects of credit card applications/accounts on a credit report, but another reason I think I've ran across not to pay that car off before you look for a mortgage is because, if your credit file is "thin" that recurring payment on your file is probably helping your score, and its removal by being paid off completely may have a small negative effect.

If your credit file is thick (lots of accounts and types) I wouldn't even worry about it.