FHA Loan ? Experts please weigh in

[RAISEUP]

Hello MyFico-

I am currently in the process of going FHA as a First Time Homebuyer, although this is not my first home.

Situation:

Income: 53K

Years on Job: 6 years

DTI: Car Lease for mother (she pays) $540 21K left

>Credit Cards 4 - $500,$500$600 and $1000 -Utilization about 50% will be paying down to under 10% next 30-45 days.

>Recreational Bike- 220 42 months left   $6700 balance

>Student Loan- $42 month 14K balance

FICOs: EQ-652 EX-643 TU- 653

Financing: 200K-240K

 First, will I qualify for the lowest rate via FHA? Secondly, is there a way for lender to compensate the fact that mother pays for the loan in order to address my DTI? I'm looking to make a move in the next 60 days.

I look forward to you guys helping...

Regards

J

[DallasLoanGuy]

mom pays which loan?

620 fico gets same rate as 850 fico 

[RAISEUP]

Dallas, mother pays the leased vehicle $540 a month. My highest reported debt by CA's

[DallasLoanGuy]

prove she pays and it can be ommitted. an i mean PROVE it.

if she gives you money and you pay it can be hard unless she writes you a check on time every month. if she makes payments directly, then just  show her bank statements.

paper trail has to make sense, that is all

[RAISEUP]

That is exactly what I was looking/hoping for. She writes the check directly to the bank. Other than that. Do you think the amount I'm trying to finance $200-240K will be ok?

[DallasLoanGuy]

what are the yearly taxes on that loan amount?

[RAISEUP]

Dallas at 1.5% I figure anywhere between $3000 and $3600. I'm trying to stay around $1700 with taxes and HOA included.