Will refinancing my car help me get approved for a higher mortgage?

According to online calculators, lowering my car payment $100 will greatly increase the "amount of home I can afford." Refinancing my car will bring my payment down just under $100. Is this a smart decision? Will this help or hurt my chances of getting approved by refinancing now and applying for a mortgage in 2.5 months?

Also, does anyone know of a free service I can call to get answers to questions like these? I will be a first-time buyer in a few months and I have a few issues that I have no idea how to proceed on. Or, if I provided my e-mail address, would any of you be willing to offer your expertise on a few issues?

Thanks for your time!

What you might consider is talking to an expert about your whole financial picture. The most you will get here is 1/2 expertise, 1/2 I want your business type answers.

I suggest you talk with three lenders in your area about purchasing and what if anything lowering your car payment will do to help you. It could be that refinancing your car loan could impact your overall credit score. So wait until you have talked with these lenders. Get prequalified. It puts you in a more powerful position when you do find the home of your dreams and could make a big difference in acceptance of any offer you might make. Then my final word is, work with a Realtor, it costs you nothing and you gain all the experience and know how of proceeding with one of the biggest financial investments you will make in your lifetime. It really is the only FREE service you'll get.

Best of luck!