What are my chances

[Shuckman00]

Fico Scores: Tu 654 Exp 646

The bad  4 small charge offs from credit cards 3 years ago lost my job. Total owed $2,048  dates are Jan 2010 and Oct 2010 I have also had to dispute info that was my dads. Same name different middle name but they mix it up all the time

I have been working in the same place for 1 1/2 years now making $55,000 yr by the time i try to buy a home it will be 2 + years

The only thing I have and pay monthly now is my car payment $356.00 month

Location: Indiana

First time home buyer

price: 100k to 120K

time: by Feb 2014

Just wanting to see what my chances are of getting approved. And any advise

[JM-AM]

Just for the sake of a quick answer, by the little you posted you would qualify. Income is very good for 110K home, scores are still very approvable as of today. Employment still may need a few more months but you also are aware of that.

[jadeite788]

Try the rebuilding forum, so by the time you want to buy a home your scores will be on point.

[MovingForward_2012]

You qualify now so as long as you keep your current path, you will probably qualify a year from now too. :-)

[Shuckman00]

Thanks for the advice and info. I have been working on and still rebuilding my scores. I am now to the point where all thats left are the 4 small charge offs which i have hit a wall with none of them will remove the Charge off for payment. I paid one off already and its still on my credit report. I was advised to just leave the others alone if they wont remove them.

Here they are.

HSBC  $900.00 last activity dec 2009

Capitol 1 $369.00 last activity Sep 2006

Kays $779.00     last act Oct 2010

Capitol 1 $ 0    Paid off last act jan 2010

I currently only have a car loan for $363/month and I rent a home for $ 750/month. So I just feel like I am in limbo and wanted to to know if I had a chance of a home loan when my lease is up which the land lord has said I can get out of early if I give notice 30 days.

[JM-AM]

You have a fairly good chance. Depending on the loan program you may want to apply as soon as you can.

Things keep changing and qualifications arent getting easier. Also if planning on FHA hopefully you will do it before June 1, 2013.

[Shuckman00]

Thanks JM-AM  I have a local reatlor/Broker who wants me to come in on friday and try to get pre-approved so I should go in and fill out the paperwork? Or what about the offer thats on this website where I fill out a form and the mortgage banks call me. How and Who should I be dealing with to get this process started? And why by June 1st is something drasticly changing

[DallasLoanGuy]

apply, it is free.

i dont see anything to be overly concerned about.

[JM-AM]

If using FHA as of June 1, 2013 you will pay MIP for the life of the loan.

You can use whomever you like. By having Lenders call you, you may have someone from across the country contacting you.

As for myself I prefer to do things locally.