Should I wait another year or do I take the plunge?

[phoenix_one]

I pay Child Support, Health Care and Retirement, those are deducted from my check.

Plus I put away about $150 a month to savings.

My taxes increased when I divorced, (started to file single this year) so I had to increase my whitholdings.

[Revelate]

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@phoenix_one wrote:

I pay Child Support, Health Care and Retirement, those are deducted from my check.

Plus I put away about $150 a month to savings.

My taxes increased when I divorced, (started to file single this year) so I had to increase my whitholdings.

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If I may make a few personal finance suggestions:

1) Unless the auto loan is at some obnoxious APR which it likely isn't with your scores pay off the CC's with the additional funds first.

2) Saving $150 at best post-tax ~10% interest rate, vs. continuing to pay >10% on credit card debt, is just losing money.  Would suggest taking that $150 savings and kicking it to CC payments that aren't on a 0% balance transfer.

[frugalQ]

your child support payment will be included in your DTI calculation.  you should find a mortgge calculator (there's on here at myfico) and calculate how much house you will be able to afford.

when adding up your monthly financial obligation/payments, you will need to include your credit card minimum payments, your car note, your child support payment. (you do not need to include taxes, and other payroll deductions).  If you are W2, you will use your monthly gross salary (before taxes all deductions).

this will help you know how much you may qualify for.

[tim1017]

Did I miss the part of why you're asking if you should wait?  With scores like yours and the profile you described, no problem getting a VA Loan.  

[phoenix_one]

To: Revelate

Interest on my debt.

Car Loan is at 1.8 %int

World MC - 5,850 - 150/month 8.9% int

Discover - 5,542 - 120/month - No interest until next year

MC - 4,200 -100/month - No interest uintil next year

Sapphire - 3,635 - 1,800 a month - All living expenses going here (rent, groceries, utilities, etc)   Balance net reduction 100 a month.

To frugalQ:

I am always try to pay more than the minimum.

To tim1707:

It's been awhile since I applied for a loan and I was not certain that was going to be approved if I were to apply.