Just wanted to say Thank you to everyone on the forum that has helped with any questions I've had! I just got pre-approved on Wednesday for a FHA through Countrywide for 120,000 and a 6.250% interest rate!
I thought it would be a long time before I would be able to qualify, but thanks to these forums anything is possible.
My information she pulled was (for those other members who are questioning if they could qualify):
Mid Score: 586
Income: 41,600 / year
Six positive open trade lines (two had one 30 day late back in 04) all others were never late.
No baddies in last 12 months. She said I would need to write a letter of explanation for a few old baddies but she didn't see any problem at all in giving me the final approval!
So thanks again myFico forum members! Time to shop for a house!
It took roughly about 15 minutes on the phone to give my information and then heard back from her in about 10 minutes! Haha. Well, my debt is VERY low. 3% DTI. Thank you everyone for the congratulations!
Free Mortgage Advice & Pre-Approvals (FHA, VA, USDA, Fannie, Freddie, Non-Prime, Construction, Renovation/Rehab, Commercial) since 2002 Located in Southern California and lending in all 50 states
I'm a tree hugging, peace loving, non-patchouli wearing new kind of hippie chick trying to find a comfortable balance in this consumer-driven world. I just wish I didn't have to care about credit.
Well there is more good news the this! My mortgage broker called me back and my fiance and I qualifed for a Rural Developement mortgage with the house that we found! Which means less money down, and NO PMI! We just put in an offer that got accepted!
Now we have to lock in our rate and actually get the financing in order. Thanks so much for all the help!
