Do I have a chance at ownership with a not-so perfect credit profile?

[GirlMelanie89]

My student loan provider. They're using mainly my base income because my bonus isn't technically guaranteed.

[Anonymous]

So will you be on an income based repayment plan?

[GirlMelanie89]

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@Anonymous wrote:

So will you be on an income based repayment plan?

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Yep! Initially, they wanted my AGI, but then I explained in great detail how our bonus is set up and it is not guaranteed and make up most of my income.  On top of that, it skews my actual income, since bonuses are taxed at 40%. :-( They didnt really flinch about it surprisingly. But now thats not even my biggest issue...my lates are. :-(

[Anonymous]

Totally not mortgage related, but I am familiar with the area where you are looking to buy. I used to live in the Tates Creek area. Just wanted to say good luck on getting your townhome!

[GirlMelanie89]

Lol How cool!!! I actually live in Tates Creek now and love it! Im hopin if I get approved, Ill like that area too! Where are you now? Still in Lex?

[Anonymous]

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@GirlMelanie89 wrote:

Lol How cool!!! I actually live in Tates Creek now and love it! Im hopin if I get approved, Ill like that area too! Where are you now? Still in Lex?

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I am about 90 minutes south in Somerset. I was in Lex from 1999-2002. Still go there for shopping and a night out occasionally.

[GirlMelanie89]

Gotcha! Thats awesome! Lex is pretty good for both of those options! Lol

[GirlMelanie89]

UPDATE!!! Sooo many of you said my dilemma with qualifying for a mortgage was the fact that I had late car payments within the last 2 years. Well, I just received a notification from myFico and Equifax Complete Advatage indicating that my car loan had been updated. I log in to see that my missed payments had been removed from Equifax!! Hallelujah!!! Now, if they remove the TU lates, we will be good to go!!! I'm so excited!!! It was only a 7pt increase, but no late payments post BK is good enough for me!!! I can't stop smiling!!! I'll let you guys know once TU updates! 

[Anonymous]

Congrats!!

[GirlMelanie89]

Thank you Annipoo!!!