My husband and I are preparing to by a house, and want to use our tax return to pay off either our credit card or our car to lower our monthly Debt to income and raise our credit.
The car is in my name, and my credit is average. The card is in his name and his credit is excellent. Our card has lower APR than the credit card, however the monthly payment is over $100 higher. We want to clear up a little room in our budget for more mortgage but we are trying to decide which is wisest to put the money towards to put us in the best situation to get a loan.
The car is in my name, and my credit is average. The card is in his name and his credit is excellent. Our card has lower APR than the credit card, however the monthly payment is over $100 higher. We want to clear up a little room in our budget for more mortgage but we are trying to decide which is wisest to put the money towards to put us in the best situation to get a loan.