Should we pay off our debts after selling our home?

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Should we pay off our debts after selling our home?

We are about to sell our house and have a pre-approval to build our new home. It will take minimum 7-8 months to build a new house. Should we repay all our debts within this time? We'll have some money after selling our house. How will it affect our DTI ratio? Will it drop my credit score?

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Anonymous
18-04-2014

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Your DTI will be lower as you will paying off your debts, that's a good thing. But it doesn't mean your credit score will be rising or falling. There are several factors that determines credit score, you should check them up.

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Anonymous | Asked on 2014-04-21

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