Question My wife and I are looking forward to buying our first home this year. However, we go back and forth on one issue: our credit card debt is at about $15,000. Is it better to pay our debt off first and miss out on the $8,000 tax credit? Or, should we get approved and use the loan to pay off the debt and get in on the tax credit?
-Ray
Answer If you have a good FICO (credit score), loans are available with excellent interest rates along with the tax credit. You should check out the FHA loans with 3 percent down! It is absolutely the time to take advantage of this buyer’s market with historically low interest rates. I suggest that you pay down your credit card methodically after you’ve moved
Karen Crystal, REALTOR® at Ewing & Associates Sotheby’s International Realty, specializes in estate properties. She brings a unique blend of efficiency, honesty, integrity and business-savvy to her clients.
When you invest in real estate, you'll benefit from equity appreciation, recurring income, and ample…
Making any type of significant real estate investment requires considerable research and a thorough understanding…
Uncovering hidden gems can make all the difference in the competitive world of real estate…
For decades, single-family homes have dominated the American housing market. Today, around 82 million of the…
In real estate investment, securing adequate financing is often the key that unlocks the door…
There are numerous reasons to own real estate, from tax benefits to portfolio diversification. However,…