[BG1124]

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So given our current situation of wanting to buy a home within the next year, you feel we should pay off the student debt before saving for a down payment? Originally I was thinking along those lines, however recently I've been leaning the other way. The money we are saving is going to go towards on of the two things, which ever makes more sense financially. Your advice is actually the opposite from what most have told me. Are you considering our time frame into your advice?

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By paying off the 15k before you apply for a loan as opposed to after, you may be able to save a large amount of interest added on to the loan by getting a substantially better rate. Every case varies obviously, but if you think you can save more by adding to your down payment then by all means go that route. My personal experience has seen that paying off large debts can have significant differences on loan rates, but I encourage you to do your own research for your case. My advice comes from helping a friend throughout his first home purchase after college and my not be applicable to your case.