Should I Get a Bunch of Pre-approvals? Or Should I Pay Off My Debt?Hi,My current income is $37,500 annually and I'm looking to purchase a $106,000 condo. I have been pre-approved for a mortgage of $96,000 @ 4.5% for 30 yrs fixed. I'm trying to get an affordable income home, and upon approval, I will have to secure a loan within a month or so. I have about $7,000 in student loan debt and $5,000 in high interest personal loan/CC debt. My credit was run on September 26, and I'm wondering if I should go crazy and get a bunch of pre-approvals over the next few days and try and find the best rate. I would like to utilize my 14-day window where having my credit run additional times won't hurt my score. At the same time, I would like to try and reduce some of my debt before applying.I'm wondering if I'd be better off paying off ~$4,000 in loans and THEN applying for mortgages, or if I'd be better off pocketing that money or using it towards a larger down payment. Would the $180 or so decrease in my monthly debt lower my interest rate?Assuming I get this property, I wouldn't need a larger loan. If I wasn't approved for the affordable housing property, then I'd need to worry about getting the largest loan possible to buy a more expensive property. What do you think? Should I apply obtain as many pre-approvals as I can right now?Should I try and pay off my debt ASAP and then apply all over again?ThanksOctober 06 2013 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.