Will it help to pay off my car before house hunt and mortgage

Not necessarily.. lenders will look to see if you have any active open accounts.. if you pay off the car loan, and have no other credit accounts open, it could be a problem.. Typically, lenders look at your monthly debt obligations... so long as you make enough money to support all your monthly debt as well as the new housing payment and be at or below the allowable debt to income ratios, then there is not going to be a problem, regardless of that car loan being paid off or not. Also, I would stay away from the big box lenders (Wells, BofA, etc).. typically, your not dealing with a loan officer but rather an application taker, and they usually only offer a very limited loan menu. For this reason, I always suggest you contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. 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 ..

To let you know for sure we would want to have more information. It could hurt not to have enough open and active trade lines by closing it out, but there are many other things that can help as well. We are happy to go over all the options with you and let you know what your options are and what the best move for you is. My partner and I have 20 years experience and love to help people achieve their goals. Call us or email us at 800-991-5309 or Team@BestMortgageOption.com for ano cost no obligation analysis of your situation ask for Michelle or Benny.