Good Morning!!
I have a few questions about the Homebuying Process.
My husband and I plan to purchase our first Home in May 2014, and I wanted to know more about the DTI, employment History, and rent payment history.
We have been working diligently repairing our credit.
My Current FICO:
TU 614
EQ 564
EX 603
Husbands
TU 593
EQ 571
EX 588
My student loans are in deferred status, and according to USAA my debt ratio is at 37%, and my husbands is at 17%, and wanted to know if that's an accurate or close enough number according to USAA?
My husband has been working with staffing agencies on temp assignments within the past 2 years, and I know FHA requires stable employment history, will this hurt us?
Also we have been depositing cash payments into our landlords checking account for the past year and a half, how are we going to prove payments since they are not bring taken out of our checking. The staffing agency provides my husband with a paper check, and he cashes it at the local bank because its convenient to easily deposit it into the landlords account.
What should we be prepared for during the process. We would like to start preparing and getting all the documents needed right now.
Thanks in advance!
Current FICO 08 as of 06/01/2015 TU 648 EQ 624 EX 602
FICO Mortgage Scores TU 594 EQ 540 EX 642
