Talk to BofA LO about getting a mortgage. We requested somewhere in the range of $150,000. He said it might not be possible with the current mortgage (going to live there until we close and then rent it out), but he ran it and he said we'll have a good faith letter of $150,000 with 5.125% in the mail shortly. We will be using the VA Home Loan Program. This comes from a 545 FICO score in July to a 670 as of yesterday. Thank you all for your help!
If you do not mind me asking what will be your DTI with the new mortgage? Im only asking because Im in the same boat(except Im trying to sell in Ft Campbell) and with the new mortgage it willl be around 55%. That is just using my income and not my wife's. The LO said my packet is very strong but I also have concerns because anything can happen.
Starting Score: 690 Current Score: 747 Goal Score: 750