Question

So we are hoping to buy a house this year but I have a few thousand in credit card debt. I don’t know my priority should be putting money away for the house or paying off my credit cards or splitting it half and half? We are first time home buyers.  

Answer 1

I would put all my money into clearing debt first. Then saving for house.  

Answer 2

As long as your debt is 30% or less of the card you will be okay to purchase.  

Answer 3

You need to talk to a lender so they can run your numbers and answer this for you. Look up a first time homebuyers course in your area. They will let you know what you qualify for and talk to you about programs so you know exactly what to do. If your debt to income ratio is fine with the cr cards you have it is better to have the money for down payment. So SAVE until you can talk to someone and if you need to pay debts you will have the money.