I've saved up 10k to buy a home. Though I recently heard it's best to go into a mortgage loan debt-free. I make 36k a year after taxes. I currently owe $6500 on a student loan which has a minimum monthly payment of $85. I also have a car loan with a current balance of $3600 which will be paid off in 6 months. As well as a personal loan for 1400 with a monthly payment of $95 which I'm halfway through and will be paid off in 6-7 months. Plus 3 credit cards which have low balances just to keep the credit lines "revolving". Together I'm in debt 12k. If I throw all my savings into it I will have to start saving all over for the down payment which could take up to 2 years. Will I have better chances being debt free or should I just go for it and use the money as a down payment? Thanks in advance.
Read more: Should I pay off all my debt before buying a home?
