02-04-2013 04:39 PM - edited 02-04-2013 06:35 PM
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
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
02-04-2013 08:03 PM
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.
02-05-2013 11:45 AM
Try the rebuilding forum, so by the time you want to buy a home your scores will be on point.
02-05-2013 12:28 PM
02-05-2013 02:23 PM
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.
02-05-2013 02:54 PM
02-05-2013 03:04 PM - edited 02-05-2013 03:05 PM
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
02-05-2013 03:07 PM
apply, it is free.
i dont see anything to be overly concerned about.
02-05-2013 03:16 PM
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.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO