If there’s more information needed, please let me know!
Credit. – (From MyFico) Mine: TU 635; EX 648; EQ 632 His: TU: 637; EX: 594; EQ: 645
Little background.
HIM: He has 4 baddies, 2 are medical, 1 shouldn’t be there it was paid and is being disputed and the other 2 are lates from MY accounts on the lates I had in late 2011 early 2012. Myfico advised him that if he got another card (he has like no credit which is his problem) with a 2k limit it would increase his scores by 40 points. He applied and got one.
ME: I have had some lates in late 2011 early 2012 due to him being unemployed and losing his unemployment income. We had to choose to keep housed, fed and clothed, or pay my credit card bills. I chose housing and eating. I have 1 collection that should not be on my report because they’re violating the SOL on it, and it’s being disputed. My utilization is at 78% according to my fico. I made large payments and brought that way down and am planning on doing so and paying down as much as humanly possible to get it down to under 30% in the next 2 months.
Income. Combined gross annual income is approximately $71,000. (was last year on taxes, may be more this year) I make $54,500 annual and his will go up from last year due to his increase in pay. He works seasonally and collects unemployment for 3-4 months of the year.
Source of income. Income is all employment salary for me and hourly and unemployment income for him
Monthly debt payments. Monthly debt payment is approximately $650.00 the bulk of which is a $367 car note, the rest being credit card payments that I’m trying to pay down
EmploymentEmployment for me is W2’d and for him as well. I have been at my place of employment for 20 years, and he has been at his for 3. The unemployment income receives something else a 1099 something I can’t remember
Assets/Reserves. We are aware that we need a FHA loan and we will have 3.5% to come up with We will have a portion saved and then receive the rest as a gift from my family & his as to whatever it is we’re short.
Location. Location is either Cook or Will County, Illinois
Property. A single family house, condo, townhome whatever we can find that is in our price range.
Value. Really don't know how much we could afford. Our ideal monthly payment wouldnt exceed $1,300
Occupancy. Primary residence
Transaction Type. It is a purchase and we would ideally like to do a 15 year loan.
Citizenship: We both are US Citizens.
Thank you so much for your time!
