What amounts of my money per month should go to paying debt and saving for a mortgage?

Answers:0   |   LastUpdateAt:2012-11-03 17:34:49  

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chimpanzee
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So I am dedicated to both getting out of debt AND saving for a house/condo. Id like to do both at the same time because th eprices and rates are SO good for getting a mortgage I don't want to put this off too long. My rent right now is about 50% higher than a mortgage payment would be

I have 1,000 extra a month after all bills and expenses to sve and pay down debt
Right now only debt:
7k balance on student loans with 4.5% interest rate. I do claim the interest for tax. MOnthly min payment is 150.
7k balance on car loan for 3.9% interest rate. Monthly min is 201.

Now condos in my area are about 90k, decent houses are about 120k. I make 50k-60k a year so qualifying even with this debt would not be a problem with my 756-777 credit scores

How much of my 1,000 extra should I pout towards extra payments debt and how much toward a house savings?? Id really like to purchase a house/condo within 2 years
Thanks
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