I need an expert advice on my credit score. My current FICO score is 726 . I am planning to purchase a home next year ( 2016 March – July ) . I am also planning to purchase a new car this year (if I get a good deal in Nov/Dec sales)
My questions are
- How my new car purchase will affect my credit score? Will Fico score go down? If so by how many points?
- Is it a good idea to buy a car at this time or should I wait till I bought home?
- Assuming credit score goes down by 10-20 points. Will I get a best home loan with 700+ score?
My current credit utilization and previous back ground
- At present I do not have any ongoing loans or balances in my total credit availability ( 6 cards around 56K credit lines)
- I had a Paid Charge-off credit history .It was 2.5 years ago
- I have good ongoing income. Can afford both car and home mortgage easily.
Thanks in Advance