No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Any advice on our situation would be greatly appreciated!
My DH is active duty military, and we used to live in Illinois. Bought our first house there in 2005. They have relocated us to Florida, and our house has been on the market for a year now. I feel like we are getting enough viewers of the house and the comments we keep getting is that is shows very nice but just a little too small (It's a nice starter home on the market for 150K). We are wanting to stay in Florida once his contract with the military is done, and there are so many good deals on homes here right now. We are renting an apartment at the moment and both have very good credit scores, combined income about 140K. My question is how hard would it be to get a mortgage on a nice home here that we want while still having another mortgage we are paying until we can sell it? I'm thinking it would be rather difficult but not sure.
Thanks for any input!
TU: 771, EQ: 777, EX: 789 (FICO's) as of 06/18/09
To answer we wold need:
Value of Illinois home verse amount owed
Payment on Illinois home
credit scores
debt obligations (cc payments, loans, etc)
house value you are looking to buy
expected taxes/HOA fees
amount for down payment
Loan program interested in (conventional/FHA/?)
That should give people some info to work with.
The value of our home in Illinois is 149,000. The balance on our loan is 141,000. We pay 1,100 a month on our mortgage. We are currently renting an apartment in Florida for 990 a month.
We have about 13K total in CC debt, all balances are well below 30% of the CL's, and most months pay much more than the minimum so we can get this paid off quicker. Between the two of us and our 1 car loan (other is paid off), we pay about 900 a month for all our loans at the moment. My FICO scores are listed above; last time he checked his are TU: 690 and EQ: 710, EX: ???
We are looking to buy a house here in the range of 200-250K. It's negotiable still though- we want a nice home but don't want to go beyond our means.
We have several thousand in savings at the moment, and still trying to save more.
We have learned that Florida property tax should be assumed about 2% but anyone correct us if wrong? We haven't discussed any loan programs but for now just say any that we would qualify for (given our current situation.) We are just beginning to think about this but just not sure if we would get a quick rejection because of our other mortgage. SIGH guess we need to keep sticking this out until we sell, but there were a few houses we have seen sold that were just what we were looking for! Afraid by the time we end up selling our home in IL the good prices won't be around anymore!