New Member
Posts: 3
Registered: ‎01-24-2013
Re: How to look the best for mortgage approval by April?

Our income is about 170k/year.  The house we want is 400k and we are only planning on putting down 5%.  We were planning on waiting another year to get a bigger down pay,ent together, but we decided with rising prices in our area and good interest rates now, to go ahead and buy sooner even if that means less money down.  All the house calculators say we can afford 420k to 450k depending on the calculator.  Obvi we will do conventional in that price point.  


So is the consensus keep the cash and pay the cards down if the loan officer asks us to?  Will my score really go up that much in a couple months if I drop the util rate below 30%?  I am wondering if it would go up enough to make a difference in my interest rate...