Will I be FHA Pre-approved?

[dee2178]

Here is the story - I have been working on cleaning up my credit for a few months and I got my scores up. Here is my info:

Income: $63,550

Monthly debt: $418 (car and 2 small credit cards)

Scores as of 5/27: 586 EF , 656 TU, 652 XP - all fico scores from a tri-merge report pulled by a mortgage broker ( I am dissatisfied with him at this point and want to go elsewhere - hence wondering if I will be pre-approved)

Other info: 13 collections showing - already paid 3 - the 10 remaining are medical collections I am working on paying off now.

I am hoping to look for a house between $150,000 and $180,000 - I have $12000 available for DP and closing.

Help please - any advice would be great!

[ShanetheMortgageMan]

Sounds like your debt ratio, reserves, and credit would be OK.  I doubt you'd have any issues from what you've laid out.