@Anonymous wrote:My fiancée and I want to apply for a traditional loan together. Below are the details and we are targeting a 3.5% interest rate. Any thoughts on the situation below?
Scores mine - 720, 690, 720
Scores hers – 725, 700, 720
We have young credit since we have only been out of school for 3 years but we both have a joint credit card with our parents that they started for us when we started college so we have two 7 year credit accounts but our other main credit accounts are about 4 years old.
Income – gross for both of us is $101,000
Source – both of us are 100% salaried employees that have been with our companies for over 3 years each. Paychecks are guaranteed to be the same every two weeks.
We both have car payments that total 650 dollars a month and will be paid off at the same time a little under 2 years from now. No debt of any kind except for the cars. We put all of our monthly expanses on our credit card but pay the balance in full ever month and have been doing that since we graduated so we haven’t carried a balance in a couple of years but we spend about 1,800 dollars a month so that shows up on our credit report and goes towards our credit to debt ratio so we have been using our debit cards lately for this reason.
Assets – $20,000 cash, $15,000 to put down
Texas – Fort Bend county
Single family home
230,000 price of house
Primary residence
We will be building this house
From everything you're saying it looks great, your stats are better than mine and I was approved fwiw 
But without 20% down you won't be able to go conventional, so you'll have to look at FHA or USDA (USDA is the best if Fort Bend County is covered by USDA), so if that's the case you're more than qualified.
