Are you in high interest debt?

Whether you personally carry high-interest debt is a factor to weigh honestly before taking on a mortgage payment, since a lender will count credit card and other consumer debt against your qualifying income regardless of how stable your job is. Paying down high-interest balances before buying often improves both your approval odds and the interest rate you are offered, sometimes more than saving additional down payment cash would. A lender can show you exactly how existing debt is affecting your numbers. Joel Boss can connect you with a lender who will walk through this before you start touring homes.