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i want a car and a mortgage, what do i do.

my car just broke down but my lease is up in 4 months and i want a mortgage. i've been advised by several bankers to do NOTHING about my car (one even recommended i rent a car for 4 whole months...) because the large purchase will not only screw up my credit but look bad on my bank statements and completely compromise approval. is there any way to both get a car and then get a mortgage? seems a little incovenient! i have a very stable, happy salary at $60k annually and a decent savings account, but the down payment for the car is $7,000. help.
By ohsienna54789708 from VA Jul 9th 2014
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This is a personal decision you need to make, so if you have spoken to mortgage professionals to be Pre-Approved without your car payment, I'm sure they can do some quick calculations as to what you could be Pre-Approved for if you add a cr payment to your credit. If you need a car to get to work, then that is a priority over a house, but that's a decision for you to make yourself. Unless you can walk to work or find other transportation, I'd say a vehicle is a must to continue to be employed. Good Luck on whatever you decide!

Jul 9th 2014

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