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[QUOTE]Originally posted by RixSikCobra: [QB] [QUOTE]Originally posted by cobraracer46: [qb] You definatly need to clean up your credit card debt and sell or pay off your vehicle before you even think about getting a home. Once you are debt free, burn all your credit cards and build up enough savings to cover 3 to 6 mounths of expenses in case somthing bad happens like getting laid off from work. Once you do all that, then you can start thinking about buying a home. One other thing, look into a lender that deos underwriting, meaning some one who is professional enough to look at the details of your life instead of some dumb monkey who simply gives you a loan based on some stupid credit score. [/qb][/QUOTE]Here we go again. :rolleyes: ...a word of "advice" from our friendly neighborhood financial adviser. There is NOTHING that says you can't have a credit card(s)to qualify for a home loan. In fact, lending institutions LIKE to see a track record of your credt history. DO NOT "burn" your credit cards; you have them, save them for an emergency or somethin'. If you suddenly lost your job(God forbid), they can't be taken away, but you won't be able to get credit without income. I would try and pay them down as much as possible, however, because having a lower income/debt ratio will qualify ya for a bit more. Having credit is GOOD. Keeping low balances on your accounts is even better because it shows responsible spending habits and only IMPROVES your score. With a credit score of 660-700, you're gonna qualify for a loan, no problem...even with your car/crdit card debt. :patriot: [/QB][/QUOTE]
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