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Updated over 4 years ago on . Most recent reply
Should I pay my bad debts before house hacking ?
Hi my name is Willy German I am interested in becoming a real state investor in the tri-state area. I have two personal loans with a total of $15,000. However i would like to know if i should pay of this debt before i could house hack my first deal?
Most Popular Reply
Hello @Willy A German,
I'd recommend you connect with a lender who can look into your financial situation as a whole - income, debt, savings, credit, target property type and target price range for properties.
They may recommend paying it all off in order to decrease your debt to income ratio (DTI) but I wouldn't take anyone's advice on this unless they're looking at the entire picture.
Best of luck to you moving forward!
Abel
- Abel Curiel
