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Posted by mikki on April 5, 2008, 10:25 am
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I decided to start saving up for a down payment for a house, which I
plan to purchase in 6-8 months. Before making this decision, I put a
chunk of my savings into my two auto loans, in addition to my regular
payments. For the two auto loans, they list my next payments due
sometime in 2009.
I was considering not making my regular monthly payments for a few
months so that I can save that money towards the down payment of the
house. I am concerned, however, that this may negatively impact my
credit score because the payments will appear to be erratic and then
stop suddenly (even though no payments are technically due).
So, should I continue making the monthly payments to appear less
erratic or save the money for the down payment, so that I can
hopefully avoid PMI? :)
Thanks for any advice!
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