With one installment (car payment) you will be okay. The question isn't to pay off or not, the question is what is the monthly on the car payment and what kind of housing payment can you afford. If you find homes you like in the price range provided by your Mortgage Broker, then you are good to go.
Call up a local Mortgage Broker in your area to go over all of your options. You are in a uch better place than many first time home buyers.
Best of Luck;
CEO & SR Credit Repair Specialist at
Everlasting Credit Repair
Ex-Mortgage Broker of more than 10 years
We also have a DIY package.
Who knows how much it will go up to next year, if it does?
Moreover, the price of homes is shifting. It is, without a doubt, going up. Since, market trend is local, I can't tell the same thing in your area.
The low interest rate plus the price of home. These are two factors you need to consider.
Your best route is to sit down with a local loan officer to go over with him some options to help you with your decision.