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Do I qualify for a mortgage?

New Member

Do I qualify for a mortgage?

Firs let me tell u something about myself. Im 26 years old. Im in the trucking business for 1.5 years and I made around 50000$ on W2 this year. My middle credit score is 727 and I have 380$ car payment with no other  payments of any kind. I have 3 credit cards 7500$; 4000$ and 3000$ which are paid off. I have 5 credit inquiries on each of the credit scores. Do you guys think I can qualify for a mortgage up to 150000 with 20000$ down payment and do you have any advices. Thanks a bunchSmiley Happy

Message 1 of 5
4 REPLIES
Valued Contributor

Re: Do I qualify for a mortgage?

YES! Definitely! You should go interview some mortgage brokers soon. :-)
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 2 of 5
Valued Contributor

Re: Do I qualify for a mortgage?

You may run into employment issues. Most lenders wont accept less then 2 years employment history unless other factors are considered.

But I agree go speak to a LO or Broker.
Good Luck
May all your dreams and wishes become a reality!
Message 3 of 5
Valued Contributor

Re: Do I qualify for a mortgage?

+1, yes that is a good point. They usually want to see 2 years of employment history but you are close. :-)
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 4 of 5
Contributor

Re: Do I qualify for a mortgage?

I'd bet you can get away with the slightly shorter employment history with such a big down payment. 

Message 5 of 5