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Down Payment or Credit Debt |
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I want to know whenapply for a mortgage is it better for the person to have say a 30,000.00 down payment with about 30,000.00 in credit card bills or to have no down payment and zero dollars in credit card bill. |
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You won't find any mortgage programs with zero down payment these days, so forget that option. But that much credit card debt would certainly make it hard, if not impossible, for you to qualify. Not much more I can say without knowing your whole financial situation. Talk with some mortgage brokers; they can advise you. |
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Edith
Originally published on December 5, 2007 |
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