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Member
Posts: 6
Registered: ‎11-27-2007
0

659 FICO SCORE

Appyling for VA loan.Income 68k per year.Only 20k indebt including Auto Loan.Think any problem securing Mortgage Loan on 150k?

Established Contributor
Posts: 878
Registered: ‎04-08-2008
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Re: 659 FICO SCORE

[ Edited ]

I'd say you're in pretty good shape. A 620 middle FICO

is all you need for the best rates, and as long as you have

no baddies you should be ok.

 

A 150k mortgage on a 68k/yr salary is just over

2 times income, which is very conservative. Plus,

VA loans allow for a higher debt to income ratio

than FHA or conventional loans.

 

Last time I checked, 30yr VA loans are at 5.25% fixed

with 0 points. 15yr fixed is 4.75% with 0 points.

 

I'm sure one of the experts will chime in, but on the

surface it looks good. Smiley Happy

 

CanDo

 

"The right attitude is everything"

Message Edited by CanDoAttitude on 01-21-2009 12:01 PM
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