We recently sold our home. We paid cash for a piece of land to build our retirement home on. We have picked out the house plans and have the builder lined up. We have only one credit card and it has an $18k balance. I am retired and receive SS and a Pension. My wife will be receiving a Pension and will continue to work full time for another 3 years. Is it to our advantage to take some of the $ from the sale of our house to pay off the credit card and use most of the remainder toward the construction loan? Or should we continue to pay on the credit card balance and either apply the $ to the Mortgage or bank it?