Thursday, July 30, 2015
Pay off student loan before mortgage or refinance?
Okay so by December of next year I would like to have purchased my first home.
The last four months I have paid off about 7000 in bills. Nothing crazy; zales, care credit, personal credit card.
I understand how debt can affect the creditors decision to give you a mortgage loan and the last big thing in my name besides my car payment is my student loan. Should i:
Continue to pay that with its killer interest fees until AFTER I close on the house
Or
Refinance it to my credit union before.a+lso
Should I refinance to 12 months at about 850 per month and get it out of the way or save the money to build my savings account as I need that too. I do have a good history of paying a lot quick but I need to know the best options for my short term goal/plan
Thanks!
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