Journey to owning a home

Determined79 · ‎05-06-2015

Any advice on where I should begin in applying for mortgage? My income is 100k per year. I had several tax liens that were paid and most removed from my credit report and my CPA is finalizing the last details to settle those related to a business closure. My husband and I both had credit issues due to our businesses failing but we have been renting for 2 years and now ready to buy a home. Should I go to a mortgage company for a pee approval at this stage? We have money for down payment to offset any potential credit issues. Please help. We really need our own home.

frugalQ · ‎05-07-2015

what are your mortage scores? since the taxes have been paid, they probably won''t cause an issue...as long as your credit scores are high enough and you meet the other requirements like DTI

good luck

Anonymous · ‎05-07-2015

Where are you located? Do you have a realtor that you trust that could refer you to a lender?

Determined79 · ‎05-07-2015

My mortgage scores are: EQ: 608 Ex:576 Trans:507

Determined79 · ‎05-07-2015

I am currently not working with a realtor and located in Mississippi.

Anonymous · ‎05-07-2015

@Determined79 wrote:
My mortgage scores are: EQ: 608 Ex:576 Trans:507

You're gonna want to see a bit of an increase in those scores before you apply. FHA requires your middle score to be 580 AT A MINIMUM; you're not quite there yet and will most likely loose a few additional points with the HP.

Determined79 · ‎05-07-2015

Ok great thanks I am going to wait another 30 days to see what scores increase after I do 2PFD's.