No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
@Laxflava wrote:
I'm looking to by a home between 289500 and 310000
My credit scores just hit are 611(EQ) 645 (TR) and 596(EX).
I plan to pay down my debt to 5% Equifax forecast my scores to be a minimum 660(EQ), 690(TR), 630 (EX)
I have not missed a bill in 18 months (credit or mortgage). But before that I have a couple 120 day lates in this current mortgage.
I'm going to make 136k this year self employed. I've already grossed 96k
Last year I made 55k 1099 and 48k w2
2009 I made about 60k 1099.
Do they really want two years of tax returns?
I do not have any liens at all. But I always pay uncle Sam after the fact. This year I'm finishing 2010. Next year I'm finishing 2011.
Anyone see any problems with me getting a mortgage? Does anyone have a suggestion?
Unfortunately, 120 day lates on a mortgage count the same as a foreclosure. You need three years clean history afterward to be eligible for a mortgage again.
ETA: Here's a thread where I learned this: http://ficoforums.myfico.com/t5/Mortgage-Loans/Effect-of-multiple-120-lates/td-p/824036
Yes they definitely want two years of tax returns - and they will order the tax transcripts for the last two years. Good Luck!