Absolutely. The way it works is the mortgage companies look at your debt to income ratio. Basically they look at home much money you make against how much you are required to pay in bills each month. If they find that you owe more than 50% than you make each month then they may not pre-approve you.

So if your minimum payment is low enough in addition to other debts then you’re fine. There’s no harm in going to a bank and getting pre-approved. That doesn’t affect your credit. The best advantage you would get is that the bank could tell you exactly how much you would need to pay off of your credit cards before they could pre-approve you.

Don’t be scared, you may be better off than you think.Pay off the credit cards. Carrying balances of more than 30% of your available limit, hurts yourscore. Pay off the credit cards and you get a quick boost to your score.

In the current economy, you need very good credit to qualify for a mortgage. Qualification requirements are much stricter, including debt to income ratios.
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