What's the Best Way to Pay Off Credit Cards to Buy a Home in Troy, MI?

If you want to relocate to Troy, MI, paying off your credit cards should be a top priority. A high credit card balance can negatively impact your FICO score, making it more challenging to secure a home loan with favorable terms. However, with so many different strategies for paying off credit card debt, you might be puzzled about where to start. 

In this article, we'll look at the best ways to pay off your credit card debt to maximize your credit score and boost your chances of buying a house in Troy, Michigan.

Get a Balance Transfer Credit Card

If you've made your minimum monthly payments on time and maintained a low credit utilization, you may still have a good-to-excellent credit score despite your credit card debts. If that's the case, you could be qualified for a balance transfer credit card that offers a 0 percent intro APR.

This introductory offer could last 12 to 21 months and allows you to transfer your high-interest balances to the new credit card, saving you interest charges during the 0 percent period. This makes paying off your debt smoother and faster.

If you're searching for a Troy, Michigan home loan, look no further since loan officers from Reliance Financial Group are here to help you secure the best home loan deal available.

Debt Consolidation

If you want to move to Michigan and eliminate your credit card debt, you consider debt consolidation.  Debt consolidation allows you to combine multiple lines of high-interest credit card debt into a single loan with a fixed monthly payment. One of the ways to consolidate debt is by doing a balance transfer, but it's also possible to consider taking out a debt consolidation loan or a home equity loan.

A debt consolidation can simplify and lower the cost of paying off your credit card debt, provided that the interest rate of the debt consolidation debt is lower than the interest rates of your credit cards.

Pay More than the Minimum

Looking at your credit statement is crucial since paying only the minimum balance would prolong the time it takes to pay off your bill. Conversely, paying more than the minimum can result in paying less interest in total. Your card company must chart this out in your statement, allowing you to understand how it affects your balance.

Contact your Reliance Financial Group mortgage broker in Troy, MI.


In conclusion, paying off credit cards is crucial for buying a house in Troy. Paying more than the minimum, debt consolidation, and getting a balance transfer credit card can improve your chances of qualifying for a mortgage and securing your dream home.

If you plan on buying a home in Michigan, taking out a conventional home loan by Reliance Financial Group is a wise choice because of its competitive interest rates and favorable terms. Contact our mortgage experts for inquiries today.

* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.