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Can someone provide me some guidance? Do I qualify for a mortgage?

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bulldog1984
New Member

Can someone provide me some guidance? Do I qualify for a mortgage?

Thank you in advance for any information you can provide me. I'm interested in purchasing a home in the summer 2014.  I've owned a home in the past and sold it in August 2012. Due to medical issues I had a lot of late pays. IWill the late pays be an issue? I just pulled my FICO scores and report.  I know I have some work to do and I'm working on paying down the credit card and increasing my credit scores but I wanted to get a feel for what I'm up against and if the timeframe is possible. Thank you again.
 
 
 
 

Credit: EX 637, EQ 645, TU 651

 

 

Tax Liens: TU and EX are showing  two released state tax liens(will these fall off in 2014)

03/07 $188

12/07 $116

 

 

1st Mortgage Company

History 
Late 30 Days7 times (Jun 2009, Mar 2009, Aug 2008)7 times (Jun 2009, Mar 2009, Aug 2008, Jul 2008, Jun 2008, Jan 2008, Dec 2007)7 times (Jun 2009, Mar 2009, Aug 2008, Jul 2008)

 

 

2nd Mortgage Company-(It was sold to this company)

History 
Late 30 Days3 times (Jun 2012, Apr 2011, Mar 2011)3 times (Jun 2012, Apr 2011, Mar 2011)1 time (May 2012)

 

Income: 40, 000


Source of income: Employment


Monthly debt payments:

Card 1: Limit - $8000, Balance - $5,400 Payment - $197.00

 

Employment: Full-Time - 10 years


Assets/Reserves: 3,500 and still adding to my savings.  401K has about 8,000


Location: Cincinnati, OH


Property: I would like a single family home with 2-3 Br/ 1.5Ba 


Value: 50,000-75,000


 

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