Will paying off auto loan in 3 months affect first time home buyer mortgage?
I made $ 12,000 Auto loan 60months 5.75%APR 3 months ago. The car sales man told me that they had to do 5.75 instead of 5.50% because I don’t have any loan history at all even though my credit score is 750. Now I have money to pay off the loan but I am afraid it might affect the home mortgage if I want to buy a house in a year or so if the same theory applies. Please let me know if I should pay it off now or pay large amount first to avoid paying too much interest and paying off smaller amount in next 9 months to make it 12 months payment?