Hey guys,
I'm really in debate with myself whether I should use all my savings for down payment and closing cost to buy a house for the first time. Overall I've 3 credit cards with 3k balance one with the large balance ($1600)has 0% APR till August 2019, I'm planning to pay off the other two credit cards in the next two months before finalizing the house process.I've a good credit score (700+) and I've been pre-approved for the loan. One of my question is: doing all that(house down payment, closing cost, paying off 2 credit cards) will leave me little to no savings??
A little background info for my follow up question, My fiance and I will be living in the house even if his name is not going to be on the loan because of his credit score(income vs debt ratio) he has about 15k debt in credit cards, do you guys think it's better to pay the CC's before getting the house?? We've been living together for 2 years and we feel like we're throwing money on the apartment while we can use that money for mortgage, overall we have a decent income combined we make 135,000 per yr plus he gets 5,000 bonus once a year. What do y'all think? Any personal experience??
Submitted December 22, 2018 at 03:27AM by AnuyeGT17 http://bit.ly/2By3IJV
