Updated over 8 years ago on . Most recent reply
Pay off Student Loan prior to Mortgage app?
Hi. I've got about $3,000 left to go on my student loan, with a payment of $156/month. I'm going to be applying for an FHA mortgage in July. Only other debt is a car loan of $200/month, credit over 750.
Wondering if its better to show more cash on hand, or to pay the loan off and reduce monthly debt amount?
Most Popular Reply
If you are able to pay off the student loan, it may be a good idea to do so since it may help you qualify for more money for your new home.