I am single. I have a score of 630. I have a pre-tax income of 30,000. I already have nearly $800 in monthly debt. What are the odds of me getting approved for a $70,000 house?
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Your $800 monthly debt, what does that include? Are you only including car payment(s), credit cards, and/or student loans? Or are you including living expenses as well? If it's not, you're already above 32% DTI without your mortgage. If your annual gross income is $30,000, your monthly income has to be lower than $2500 - and $800 of it is already being used?
