08-06-2012 01:59 PM
I am currently at 692 on all three of my scores.... I have 2 credit cards and use less than 10% of them each month and pay them off in full every month. I have had one charge-off from 2006 but that was paid off years ago. In the past I have had some missed payments also, as of right now I have no delinquent accounts and my last late payment was 5 years ago. My fiance really has no credit at all but recently got a credit card and is usling less than 10% utilization and paying off in full monthly. We are looking at getting a home loan in 13 months. She has 60k in student loans and I have 10k.... we will have around 32k cash in the bank around the time of applying. We bring in gross of 6500/month and our only debt are student loans payments of $1000/month. Do you think we have much of a chance at getting a mortgage? And if so at what rate do you think. Is there anything I should be doing to have a better chance of getting approved?
08-06-2012 02:04 PM - edited 08-06-2012 02:07 PM
A little more information:
My income 40,000
We have both been steeadily employed for multiple years.
This will be a single home purchase.
We will be putting around 15-20k down.... We will have 32k in the bank specified for the house.... Overall we will have around 45,000 with savings and all.
Please help me out with some info.
08-06-2012 02:04 PM
08-06-2012 02:06 PM
I ruined my credit a few years back in my college day. Got down to the 500's.... luckily I was able to bring it back up to 692 by being meticulous with my credit.... hopefully it will be in the 700's by the time I apply.
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