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We want to get a house soon. We just bought 2 used cars. We are paying off all cards/loans and sell a townhome.How bad does this hurt/help our credit?
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Well, everything depends on income/debt ratio. Buying the 2 cars doesn't hurt, if the payments are not too high, and paying off all cards/loans and selling townhome can only enhance your credit standing. Talk with a mortgage broker and go over the details. You need to know your credit score; what you qualify for in a house payment according to your income and what size of a down payment will you need.
What did you end up doing? Have you purchased something already or did you end up renting somewhere? Living with family/friends?
Paying off the bills is good. Buying used cars may not be bad either. How has it been going with you all? Ready to move on? Let me know. Cindy @ CindySmithHomes . com 919 219 3371
Get a recommendation from friends and family on a Mortgage Officer. They can help you formulate a plan of attack on your debt and will usually work with you over time, until you are where you want to be-in your own home!
You should have a good idea of exactly where you stand, from the beginning. Call a Mortgage Loan Officer, get recommendations from friends and family on someone they have used and were happy with. This person should work with you to formulate a plan of attack for any debt and help you end up where you want; in your own home!
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