Asked by Gina_santiago10  |  Submitted August 22, 2016

How likely can we buy a home with 3-5% down? We are paying off all debt now so we will be at zero debt when we purchase.

This will be our first home. Looking at 3-5 years from now. Right now credit score is poor but all debt will be paid. Household income about $64,000 year.

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  Answers  |  1

August 22, 2016

Hello,

A lot of things go into determing your interest rate including debt, income, and credit score. Here is a great article from MoneyTips about how to ensure you get the best possible interest rate. You can also use the MoneyTips Credit Manager to monitor your credit score.

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