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Updated about 7 years ago,
I'm trying to build credit. Pay off loan at once ? Or monthly
I'm trying to build credit - should I continue monthly payments or pay off my loan? I want my credit to be a bit better before I apply for a home loan . I owe about 5k on a car loan . I know conventional and fha loans factor in dept . But they also factor in credit . Would paying off a loan so I have no dept be better ? Or would paying monthly payments be better for credit ? which that's worth more ?