I wanted to put this out there and get people's opinions. I'm thinking about applying for a mortgage soon. I could wait another year if need be, but with Hurricane Harvey flooding, I'm worried home prices will rise and interest rates could go up more in a year
Mortgage FICO Scores (obtained today from MF): Ex - 652, TU - 677, EQ - 648
Negatives - medical collection $525 from 2012 remains unpaid. Could pay if need be. Also have late pays on student loan from 2012 (3 30-day) but have since paid off the loan
AAOA: 2 years 7 months - have 8 credit cards, total credit limit = $42,000. Current utilization is $1,601 (3.8% - PIF every month). One paid off $32,000 car loan.
Income: commission-based, full time employee. W2 in 2015 was $58,000. W2 in 2016 was $62,000. Current YTD gross is $44,755
Full time, been with same employer 3 years and 3 months, same industry 8 years.
Monthly debt obligations: Just my credit cards, which I PIF every month. Vehicle is paid for. Student loans paid for. I rent right now, so that would be gone when I buy something.
Assets: Checking Account: $10,000. Savings account: $22,000. 401k: last I looked it was not much, like 9k.
Proposed Location: Fort Bend County, Texas.
Property info: single family detached home, primary residence, re-sale home, annual property tax rate 2.5% Looking in the $175,000-$200,000 range.
Guess because I would be a first time buyer I'm nervous. Will be applying tonight with a guy who is a mortgage broker and has done the mortgage for my parents several times.
Current Score 7-1-21: TU: 812 EX: 805 EQ: 839
Goal Score:ACHIEVED - 800 Across the Board
In My Wallet: Cap1 QS - PenFed Power Cash Rewards - PenFed Promise - AmEx Delta Platinum - DISCO - NFCU Cash Rewards - Chase Sapphire Preferred
