[USA] A seller just agreed to my offer on their house ($500k). This would be my first, and I am about to start reaching out to lenders for loan offers. I have $50k in savings ($15k in cash and $35k in an S&P 500 ETF). I also have $40k in credit card debt, at an average of 11% above Prime.
Should I pay off my credit cards with my savings fund to make myself more attractive to lenders (or other house buying considerations)?
I purchased ETF shares instead of paying down credit cards (mostly), figuring that the market would appreciate at an interest rate greater than the my credit cards interest rate, which indeed it has over the past 2 years (mostly). If it is better for lender terms/house buying considerations, I would sell tomorrow.
Other details: My income is $6k/month, with $3k in recurring expenses (inc. bills). I have $200k in my 401(k). My Experian credit score is 790. One lender has issued me a preapproved letter at $600k. I am married and in my 40s. I am aware that home-buying is primarily a lifestyle choice, and not a fantastic investment, and intend to live in it for 30 years (hopefully).