Welcome to MyFICO! 
You have done very well getting your score up over the past year. Congrats!
A couple of comments:
It is normal for a score drop when you pay off an installment loan. It doesn't seem logical, but that is what happens when you have no open installment loans reporting. You took care of it by getting another small PNC loan. You should see results (more points) when your installment loan is paid down to less than 10% of the original amount borrowed (in your case, when you have less than $250 remaining on the $2500 loan). There is some speculation here on the Understanding FICO scoring section that you may see a score bump if you pay your installment loan to less than 70% of its original loan amount, but we don't know that for sure.
Having said the above, your scores are just fine for an FHA loan. In fact, you could easily qualify for a conventional mortgage (score wise). The advantage to a conventional mortgage loan is that the MI will drop off automatically when your loan balance reaches 78% of the original appraised value - saving you that monthly MI fee. For FHA the MI is there for the life of the loan - unless you put down more than 10% of the purchase price, then it will drop off after 11 years. Have your LO give you the comparison between an FHA loan and a conventional mortgage loan so you have the info to make a decision that is in your best interest.
As to getting married - please wait until your loan closes. If you marry during this mortgage approval process, then you will need to change the contract and the title work will need to change a bit.
As you saw with the figures, if you add your fiancee to the mortgage, then her scores are used: lowest mid-score of the applicants is the qualifying score. That has a tendancy to increase your interest rate on a conventional loan. It doesn't affect the interest rate on a FHA loan normally unless the score is very low (under 620). Is your mortgage broker just a broker or does he also originate, underwrite and fund the loan (mortgage banker). Big difference.
As to the truck purchase: hold off until after closing. Any truck payment will affect your DTI which may or may not affect the purchase of your home. We don't have figures so we have no idea of what your front end and back end ratios are to know if it would hurt your home loan.
@StartingOver10 wrote:Welcome to MyFICO!
You have done very well getting your score up over the past year. Congrats!
A couple of comments:
It is normal for a score drop when you pay off an installment loan. It doesn't seem logical, but that is what happens when you have no open installment loans reporting. You took care of it by getting another small PNC loan. You should see results (more points) when your installment loan is paid down to less than 10% of the original amount borrowed (in your case, when you have less than $250 remaining on the $2500 loan). There is some speculation here on the Understanding FICO scoring section that you may see a score bump if you pay your installment loan to less than 70% of its original loan amount, but we don't know that for sure.
Having said the above, your scores are just fine for an FHA loan. In fact, you could easily qualify for a conventional mortgage (score wise). The advantage to a conventional mortgage loan is that the MI will drop off automatically when your loan balance reaches 78% of the original appraised value - saving you that monthly MI fee. For FHA the MI is there for the life of the loan - unless you put down more than 10% of the purchase price, then it will drop off after 11 years. Have your LO give you the comparison between an FHA loan and a conventional mortgage loan so you have the info to make a decision that is in your best interest.
As to getting married - please wait until your loan closes. If you marry during this mortgage approval process, then you will need to change the contract and the title work will need to change a bit.
As you saw with the figures, if you add your fiancee to the mortgage, then her scores are used: lowest mid-score of the applicants is the qualifying score. That has a tendancy to increase your interest rate on a conventional loan. It doesn't affect the interest rate on a FHA loan normally unless the score is very low (under 620). Is your mortgage broker just a broker or does he also originate, underwrite and fund the loan (mortgage banker). Big difference.
As to the truck purchase: hold off until after closing. Any truck payment will affect your DTI which may or may not affect the purchase of your home. We don't have figures so we have no idea of what your front end and back end ratios are to know if it would hurt your home loan.
Good advice.