Once you've found a broker to work with they can suggest a few local mortgage lenders to speak with, again not every lender is right for eery buyer and getting matched to the right one will save you money as well as stress. This is the person who can advise you on best as to whether it makes more sense to pay off your debt or if this will have little effect on the loan program they can offer you. They can also advise you on how much it may impact your credit score and how long it may take to actually see your score go up. (It's not instantaneous. My guess is that it's not too early to get started.
I wish you the best of luck and happy house hunting.
Best of Luck,
Century 21 tenace
It's interesting that you want to pay down debt to better your credit scores. It may surprise you to find out that sometimes paying off credit all at the same time can actually hurt your credit scores. I would highly recommend you meet with a qualified lender who can help you navigate your credit and properly advise you on which accounts to pay and the timing of the payments so not to hurt your credit. I can recommend a couple of really good lenders who know how to handle that for you.
The buying season is now. Buyers who buy today, in my opinion, are winners. Home values are starting to rise again, and are still at a stable low. Additionally, interest rates on home loans are at 65 year lows! It is an amazing time for anyone thinking about buying to buy. The process takes time, so sooner is better than later. We did see an uptick in interest rates this week over last week and are likely to see this trend continue. Homes are much more affordable today than they will be in a few months.
When you're ready to get started, don't hesitate to visit my site and brouse homes in the area you're looking. I'll be happy to assist you further.
I would surely start the process now. Using your income tax to pay down debt and use for a down payment or closing cost is a great approach. I would love to help you with the process. I specialize in first time buyers, short sales, reo, and forclosed homes if your looking for a deal. Contact me for more information on this and lenders. I will get you in the right direction and I'm very flexible to your needs.
West USA Realty New Mexico
Check out my 26 customer recommendations on this website!
That is a great question and most of the answers are correct that you have already received. I work with my clients and give them the tools and knowledge to pay off all their debt, including their mortgage, in 6-10 years. This can be done with the same amount of money you make today and best yet, without changing your life style.
Buying a home is a great investment, but owning it free and clear is even better. So plan not only to pay off your debt to get better credit scores, but to set your goals to be debt free soon.
Feel free to call me at (505) 440-6293 if you haven't found a decent mortgage broker of financial advice - I'd be happy to give you some names.
There are a few different ways to approach it. Initially, I would recommend connecting with a mortgage lender. This is because, we need to determine if you'll need money for down payment and whether or not your existing debt will effect your buying power.
I'd be happy to assist you in breaking down all of your options and getting connected with the right mortgage lender who can properly assist you.
Since the seller pays for my services, there is no cost to you for my assistance, so feel free to connect with me.
Syan Real Estate
Call/Text: (505) 730-8181
Let me know how I can help you in your home search. You might as well start that process generally speaking; although after your conversations with a lender you will be able to hone in on a price range with acceptable payments that you are confortable with too.
Sandia Peak Realty
It would depend how your debt to income ratio. There are great home buying programs some if you qualify, can buy you a home for as little as $500. Its a buyers market and rates are historically low!
Please let me know if I can help I work with a great team of indivduals that helps make buying a home as smooth as possible.
We can get you pre-qualified with no cost to you.