If you are not qualified to buy a house because you have too much debt there are only 2 solutions to the problem. One is to make more money in your job or too reduce your debt. Of course it is not likely that you are going to get an immediate raise or promotion with more money tomorrow.
But you can take charge and start paying down your debt. Have a high credit card payments start reducing the ones that will make the most difference. The key in debt rations is the total amount of monthly payments. If you have a credit card payment of $250, try to get it down to $150.
Only have a few car payments left. Pay it off early and DO NOT buy another car until AFTER you close on your house. Ask your loan officer where you need to be to get a home. What is the amount of monthly debt you need to buy the home you want?
Then take the positive steps to reduce your debt load. You will be glad you did!
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