I'm trying to build credit. Pay off loan at once ? Or monthly

[Jornel Lugo]

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 ?

[Marian Smith]

Go to the horses mouth, call your banks loan department and ask them. They are in the business of selling loans so it is in their best interest to help potential clients maximize their credit score, or at least improve it to minimum.