Credit Scores, Debt, and Buying A Home

With Americans carrying over $1.27 trillion in credit card debt, understanding how credit actually works and how it impacts homeownership is more important than ever. In this episode of Money Sense, Kristina Schnuckel, wealth advisor and director of client experience at Ellenbecker Investment Group, is joined by Ben Revak, senior loan advisor at ProVisor Inc. , for a practical conversation about credit scores, consumer debt and buying a home. They break down common myths around credit card debt, explain what truly affects a credit score, and discuss why having debt does not automatically disqualify someone from homeownership. The episode also explores the difference between good and bad debt, how to prepare financially before buying a home, and what buyers should consider when thinking about mortgage rates and timing the market. 00:00 Why Credit Scores Matter 01:40 Credit Card Debt & Homeownership Myths 07:33 What Really Makes Up a Credit Score 15:55 Good Debt vs. Bad Debt (Mortgages Explained) 20:35 How to Prepare for Buying a Home 30:15 Mortgage Rates, Timing the Market & What to Know Now New episodes of Money Sense drop weekly.

You can listen to Credit Scores, Debt, and Buying A Home online on Radio and Podcast. Open the player on this page to stream the available audio.

Credit Scores, Debt, and Buying A Home is an episode from Money Sense by Taelor Ellenbecker.

This episode is 00:35:39 long.

This episode was published on Apr 28, 2026.

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