All Forum Posts by: Marty Lehman

If you do not disclose it to the lender, they likely won't know about it.  It is possible the underwriter will see the payment coming out of your bank statements in subsequent months and inquire about it....but that isn't likely to occur.  My advice would be to go through a mortgage broker (like me).  Mortgage brokers are independent and thus can give you advice on questions like this that a MLO in a bank branch might not be able or willing to help you with.

You should speak with a mortgage professional and get preapproved.  Once we pull a clients credit and review their debt to income ratio, we can advise if paying off the credit cards would make any difference.  I would be happy to help you if you are not already working with someone.

Marty