Re: Help will be applying for a mortgage soon
12-30-2012 09:07 AM
I remember you. You were recently denied numerous of times for a auto loan and posted about it on the auto loan thread. Your 75 inquires you acquired from June to now trying to buy a car won't fall off for two years. You stated the score the dealer pulled was 580. There is no way you are getting an Infiniti JX in March for $610 a month and then a mortgage shortly after that. $610 a month for a 52K car plus $10K down that you stated you would put down is the payment for someone with A+++ credit and even then $610 is still a little low. Your 580 score will cost about a $1,000 car payment for the Infiniti JX. Plus you stated you had 21 late payments on your auto loan. There is no way you will qualify for a 500-600K mortgage with that score, your income, and your DTI. Mortgages are harder to get approved for than an auto loan. 90K a year can't buy a 500-600K home and a 52K Infiniti JX. You are at least 2 years away from both a car loan and the mortgage. Try it if you like but you will be sadly disappointed. Like I said before on the other thread, you need to spend the next two years gardening otherwise I could see you filing bankruptcy in a few years if you can pull a fast one on the lender. Right now you are not properly managing your finances and the mortgage lender will see that just like the multiple dealerships you applied at saw it which is why you got denied over and over again. Not sure who you are trying to fool with all of this but if you only read what you want to hear, your going to be in bad shape. I encourage you to read our advice and apply it instead of blowing it off. My two cents.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Last App: 4/5/13 Gardening until July 2014