Tying debt into a home purchase

[manlymatt83]

I have a quick question. I have some debt I'm paying off (will take me about another year to get there), but I'm also considering buying a home. Is it possible to combine debt into a mortgage?

EDIT: and yes, before anyone asks, *I CAN AFFORD THE HOUSE*

 

[CPA]

maybe, but why would you extend one year of debt out to 30 years? Just pay off the debt.

 

[manlymatt83]

Originally posted by: CPA
maybe, but why would you extend one year of debt out to 30 years? Just pay off the debt.

How are mortgage approvals calculateD?

 

[Sentrosi2121]

Pay off the debt first. You never know what surprises crop up during the first 5 years of owning a home. Burst pipes, flooded basements, leaky roof, replacing a furnace. All of these and many more may crop up during your first years of owning a home. By going into a home 'debt free' you can rest a bit better at night.