Both myself and my partner recently graduated from college and will be starting new careers this year. If everything goes as planned we are looking at buying a new home at either the end of this year or in 09.

We currently make $38,000 between us, with most going to living expenses. I have $6,000 in student loans, $2,000 in cc debit, & $8,000 car loan, while she has $20,000 in student loans and $1,500 in cc debt. My credit score is above 750, and hers is around 700. With our new careers we should be making $100,000 together our first year, going up to $200,000 in 5-8 years. We are looking to spend $350-400,000 on a home or land.

We plan to pay off all of the credit card debit prior to applying for a home loan. But as far as student loans and the car loan, is it better to pay them off or put the money towards the down payment?

With only having the jobs a year, will that hurt us getting a loan?

With the market the way it is, would 09 be a better time to buy?