How soon can I refinance after paying off debt?

Credit and mortgage advice Forums Consumer Credit Debt Management How soon can I refinance after paying off debt?

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      Hi between my husband and I we have about 12k in debt that accumulated over the last year when we both lost our jobs at the same time. We have been rehired by the same company that let us go and can afford to pay off our debt! The house we are in we are renting and have been for the past 2 years. I have been reading up on lease to own type agreements where the renters can refinance a house instead of an outright purchase after a year of payments. Right now our credit scores are shot down in the low 500s and I believe maybe even lower than that. So my question is how soon after I pay off my debt would I be able to purchase/refinance the house in to our names? We are in the Seattle area not sure if that makes a difference and this is our first home. Thank you in advance for your help.
      Assuming I was going to purchase the home instead of the refinancing since that seemed to throw a few off. If i wanted to purchase after paying off my debt what are my chances?

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