can i buy a house with credit card debt

Buying a car with a credit card seems like an awesome idea. Instead of doing a bunch of loan paperwork, waiting for credit approval, and going to the bank to get a check, you simply plop down the card, drive away in your new car, and watch your credit card rewards pile up.

 · We’re buying a house. Must I tell my partner how much I owe? Credit reference agency Experian suggests that some lenders look not just at outstanding credit-card balances but also at the amount of credit available to you so your credit card limits could be taken into account. If you don’t actually use your credit cards that much,

Can you still land a decent mortgage if you’re deep in debt?. I Had $150,000 in Debt and Was Still Able to Buy a Home — Here’s How I Did It. credit card debt at $12,000 and a car loan at.

The truth is: You can totally buy a house without having a credit score. You just need to find a mortgage company that does manual underwriting . This just means they’ll make a judgement call about you based on the details of your actual life rather than simply relying on a few debt-related numbers.

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If you decide to buy a home during that time, the payment on that loan will figure into your debt ratio, but so would your credit card payments if you left the debt on your cards.

Getting a mortgage with credit card debt If you want to get a mortgage but you have some debt, don’t despair – you can still borrow to buy your own home. This guide explains how debt affects your mortgage chances and what you can do about it.

Can You Buy a Car With a Credit Card? | – When using a credit card, do the math. But if your card is generous with its points and has a long window of zero percent interest-and if you have good credit and plenty of cash on hand-buying all or part of a.

Given that you and your husband have sizable credit card debt and a small amount saved, I think it does not make sense to even consider buying a house. Unless, and this is far-fetched, you can free up a significant amount of money each month by owning a home – i.e., your eventual mortgage payment is much cheaper than your rent.

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