Any chance?

[Deco0406]

Hello, My wife and I are trying to see if we would qualify for a FHA loan on a condo. Here is some info that might help you give an opinion. Condo price is $425000.00. We can put 3.5% down. My income is salary plus bonus and last year was $157000.00. Wife is self employed and last year took home $45000.00. We have no cc debt. We have a tax lien with an installment agreement which we have paid for 3 years with no missed or late pays. ($1200.00 payment) We have 2 car loans totaling $1050.00 per month. No late payments on anything in the last 3 years. No other debt. My fico is 667TU and 677 equifax. My husband is 655TU and 665 equifax. If I left out anything let me know and I appreciate the input of this forum.

[techgirl]

I don't see why not...

[Booner72]

I don't see why not either. is it the tax lien that keeps your scores in the mid 650"s?

Do you have a cc at all? If you do, have it report a small balance, like 5% of the limit, (just one report a balance). FICO dings u for not using your revolving credit.

[rckstrscott]

---

@Deco0406 wrote:
Hello, My wife and I are trying to see if we would qualify for a FHA loan on a condo. Here is some info that might help you give an opinion. Condo price is $425000.00. We can put 3.5% down. My income is salary plus bonus and last year was $157000.00. Wife is self employed and last year took home $45000.00. We have no cc debt. We have a tax lien with an installment agreement which we have paid for 3 years with no missed or late pays. ($1200.00 payment) We have 2 car loans totaling $1050.00 per month. No late payments on anything in the last 3 years. No other debt. My fico is 667TU and 677 equifax. My husband is 655TU and 665 equifax. If I left out anything let me know and I appreciate the input of this forum.

---

No student loans or anything you could possibly be missing when you say no debt?

Is the bonus an annual thing or was last year an anomoly? 

Is your wifes income all provable as self-employed? Does she show any losses on her schedule B?

Where is the condo? There are FHA limits and they vary by location but in my county it is only 271,000.

-scott

[Booner72]

---

@rckstrscott wrote:

---

@Deco0406 wrote:
Hello, My wife and I are trying to see if we would qualify for a FHA loan on a condo. Here is some info that might help you give an opinion. Condo price is $425000.00. We can put 3.5% down. My income is salary plus bonus and last year was $157000.00. Wife is self employed and last year took home $45000.00. We have no cc debt. We have a tax lien with an installment agreement which we have paid for 3 years with no missed or late pays. ($1200.00 payment) We have 2 car loans totaling $1050.00 per month. No late payments on anything in the last 3 years. No other debt. My fico is 667TU and 677 equifax. My husband is 655TU and 665 equifax. If I left out anything let me know and I appreciate the input of this forum.

---

No student loans or anything you could possibly be missing when you say no debt?

Is the bonus an annual thing or was last year an anomoly? 

Is your wifes income all provable as self-employed? Does she show any losses on her schedule B?

Where is the condo? There are FHA limits and they vary by location but in my county it is only 271,000.

-scott

---

Didn't want to jinx yourself, eh? 

[rckstrscott]

---

@Booner72 wrote:

---

@rckstrscott wrote:

---

@Deco0406 wrote:
Hello, My wife and I are trying to see if we would qualify for a FHA loan on a condo. Here is some info that might help you give an opinion. Condo price is $425000.00. We can put 3.5% down. My income is salary plus bonus and last year was $157000.00. Wife is self employed and last year took home $45000.00. We have no cc debt. We have a tax lien with an installment agreement which we have paid for 3 years with no missed or late pays. ($1200.00 payment) We have 2 car loans totaling $1050.00 per month. No late payments on anything in the last 3 years. No other debt. My fico is 667TU and 677 equifax. My husband is 655TU and 665 equifax. If I left out anything let me know and I appreciate the input of this forum.

---

No student loans or anything you could possibly be missing when you say no debt?

Is the bonus an annual thing or was last year an anomoly? 

Is your wifes income all provable as self-employed? Does she show any losses on her schedule B?

Where is the condo? There are FHA limits and they vary by location but in my county it is only 271,000.

-scott

---

Didn't want to jinx yourself, eh? 

---

I think this was intended for the 'Crickets' thread, but yes, did not want to jinx myself at ALL haha

-scott