should I wait to get approved for a mortgage?

First, are you back working ?? If your credit reflects the new car loan, and your income can absorb the new loan, yes, you can apply for a mortgage. Did your insurance pay off the other car ?? Do you have injuries that will require therapy?? yes, things are different now, when applying for mortgages. linda if you need a loan officer referral, I can provide a excellent one for you.. I have 30 years in the financial world.

Glad you are ok! If someone has the choice, it is generally better to wait to open new loans or accounts when getting ready to buy a home until after the loan closes, but it doesn't mean it will make it impossible to qualify. We just need to make sure the new car loan is included in calculating your debt ratio's and general qualifications, and the new account will likely bring your score down at least slightly from where it might have been otherwise - but still probably workable. I can help: pdumouchel@primelending.com or 843-619-6025 Apply online at: http://pdumouchel.primelending.com **PrimeLending was #4 purchase mortgage lender in the US in 2012 and 2013 as determined by MarketTrac(c) for Jan-Dec 2012 & 2013

You should get with a qualified mortgage broker and let him look at your complete profile.. once he has all the info, he should be able to advise you properly.. typically, buying a new car should not affect your credit too dramatically.. but it could reduce your buying power since you have an added monthly payment included in your debt to income ratios.. so long as you make enough money, or your not buying way above your means, you should be ok.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com