Balance Transfer/home buying

Asked by Alfredoinb, Laredo, TX Sat Dec 22, 2012

I want to transfer 8 credit card balances to 1 with a 0% interest offer. I have been pre-approved(prequalified) for a home via conventional loan financing. My.monthly payment for credit cards would be cut in half by doing.this. The credit card with a 0% offer would direct deposit the money needed to pay off other credit cards into my checking account. Does anyone think this will affect my loan status? Ill be closing in mid Feb. Credit score is 720. Ltv of loan 97%.

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Jesus Chuy G…, Agent, Laredo, TX
Sat Dec 22, 2012
before you do any of that talk to your lender. They are the best fit to advise you on any of those kind of things. its better to be informed before you make a move them lament later.
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Bruce Lynn, Agent, Coppell, TX
Sat Dec 22, 2012
Ask your lender....
I'm thinking you would not want to change anything.
Not apply for new credit or transfer balances BEFORE you close.
After you close, maybe you can do anything you want.

Any chance you could renegotiate with your current creditors for lower interest, so they get to keep your balances, but you get to pay lower interest?
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