Moderator Emeritus
Posts: 9,252
Registered: ‎03-19-2007
Re: Credit cards, consolidation, scoring--looking for help!
This is going to be tough with out dropping this all into software (like MS Money)
Input your budget, all the accounts and payments, set up your savings goal (for the house DP and reserves) and then set up the Debt reduction planner,
Now if DTI won't mess you up- taking out a fixed loan at 12% and paying off the cards should give you a FICO boost (just guessing on your Credit limits) kicking your scores well over 720 and getting a better rate on the mortgage (this could also reduce the $ of reserves required and DP)
I don't have enough information to tell you if this would be a good move or not-    

knowlejboy wrote:
Yeah, that's true. Thanks. The other consideration is that we're trying to get as much cash together as possible for down payment, closing costs, etc. In some ways its a balancing act between paying down debt and maximizing savings so we can close on a house.