I wanted to wait until my middle score was at least a 700 before I contacted a lender. However, after what some of you have said I went ahead and contacted a lender. After a few hours my lender I called my lender as I was anxious. To my surprise my credit score was a bit higher then I expected. My middle score was 668 with TU04; which I don't understand because here at myfico it's 644. If both are TU04 then why the difference? Anyway, He was still determining my DTI and he advised I could get a loan for 200k with where my DTI is currently. For me it was good and bad news. Bad because I really want to get into a 4plex to jump start investing in realestate. It would be perfect because with FHA I would just have to live in one of the units.
I explained to him I was looking at 275k and if there was anything I could pay down to get my DTI to an acceptable percentage. He called me back and w/out me doing anything I got pre-aproval for 250k. I'm pretty excited, this is my first home and I can't wait to own my own property. Now I've read plenty of horror stories so I know not to get too excited until I have the keys in my hand!
Anyhow if you pray, pray for me and my family for a smooth close. Actually I would just like to close, even if it is a rough ride.
Starting Score: 615