Posted on: 18th Sep, 2009 10:34 am
I am interested in buying my first home within the next year. I'm wondering which will have the better effect on obtaining a better interest rate: a bigger down payment or paying off more (or all of credit card debt). For example, which would afford a lower interest rate (given everything else the same): a 3% down payment with $5,000 in credit card debt or a10% down payment with no credit card debt?
[System detected duplicate content; converted into image. Thanks.]