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breehk

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When applying for a home loan is it better to have a higher down payment or less debt?
I am saving to buy a house in the next 12-16 months. I am trying to determine if it is better to save for a larger down payment or pay off more debt. Any advise would be greatly appreciated!

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Probably less debt, since your FICO score it the determining factor in getting a loan.  If you have a big down payment but a bad FICO score, you won't qualify for a loan anyway.  If you know what your FICO score is now, that would help with your decision.  In Texas you need at least a 640 median FICO score, so if you are above that, then save towards down payment.  You can purchase your FICO scores online at www.myfico.com if you want.  

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