Would we be approved?

creditkarma2013 · ‎05-20-2014

I have several baddies (charge offs) - not in collection from five years ago. Mid score is in 660's. Combined income is $110k and spouses scores are in mid 700's with no baddies / lates.

This would be our first home purchase. Do you think we would qualify for a mortgage without trying to pay off baddies?

meehan22 · ‎05-20-2014

Pay the charge off's first and wont be a problem!

Wallet: Chase $6,000 - Discover $1,500 - Walmart $2,200 - Voyage FCU $1,300 - Zales $2,300 - Elan Fin: $12,500(AU, reporting) - Chase $8,500 (AU, reporting) 1% UTL

creditkarma2013 · ‎05-20-2014

Most of the charge offs are already sold to other JDB's. I'm not sure how will I ever get the original lender to post the tradeline as "Paid" if I never pay them directly.

ezdriver · ‎05-20-2014

@creditkarma2013 wrote:
I have several baddies (charge offs) - not in collection from five years ago. Mid score is in 660's. Combined income is $110k and spouses scores are in mid 700's with no baddies / lates.

This would be our first home purchase. Do you think we would qualify for a mortgage without trying to pay off baddies?

First of all, what is the source of your score? If from any source other than a trimerge report pulled by a loan officer, then it is not be relied on. So, in response to you question, my reommendation is that you should apply for preapproval and go from there. Much more information is required before anyone here can give you a meaningful answer to your question. All the best.