What chance do we have of getting a mortgage???

[User273165]

ME:

Credit: 3 scores of 692- paid charge off on one of my accounts. it occurred 5 years ago. Last late payment was 5 years ago

Debt: 10,300 in student loans. Minimum payment of $108/month... no credit card debt, no car payment

Income: $40,000 base salary

Fiance:

Credit: 3 scores of 680

Debt: 70,000 in student loans, Minimum payment of $700/month... no credit card debt, no car payment

Income $35,500

We will have around $40,000 cash in all of our accounts at the time of applying. We will be able to spend around $20,000 on down-payment and closing costs.

Please let me know if you need anymore information from me....

I am really hoping to get some information from you, I have been searching and searching with no avail.

[User273165]

UPDATE: We are also first time home buyers, have been steadily employed for the last 8 years..... It is going to be a single family home in the ofallon MO area.

[tooleman694]

I think approval will be pretty easy, with probably a max payment of around 2000 a month.