https://ficoforums.myfico.com/t5/Mortgage-Loans/first-time-home-buyer/m-p/3324080#M152860 <P>Using just your base pay, which I calculate would be around $2,770/mo, and with your current payments, even a $100k sales price shouldn't be a problem... so I'd say your chances are going to be pretty good.&nbsp; Because of your wife's low scores I'd suggest you just apply on your own, as her going on the loan would worsen the interest rates you'd get.</P> Fri, 08 Aug 2014 04:28:21 GMT ShanetheMortgageMan 2014-08-08T04:28:21Z https://ficoforums.myfico.com/t5/Mortgage-Loans/first-time-home-buyer/m-p/3320166#M152778 hello all, I'm a frequent lurker but first time poster.<BR />My wife and I are looking to move to Aurora,Il next year as I was offered a higher paying job. We'd like to buy a house, and it will be our first home.<BR />A bit about us:<BR />I have a FICO score of 708 (not sure of them individually)<BR />my current cc utilization is too high, though by the move for next year my total cc uti will be no more than 2k.<BR />I have a student loan for a little over 7k, with monthly payments being 110<BR />I have a personal loan for my wife at 87/month, which will be paid off by next year as well.<BR />I have a car loan, aprox 8k left on it. (3yrs left until payoff) 220/month<BR />Base pay is 27k a year, though last year I made less (20k) I also receive bonuses, which pushes my income to roughly 33k. when we move my new job pays $3 more an hour, and I will still receive a bonus.<BR />No late payments ever, no collection activity.<BR /><BR />Wife:<BR />relatively low score, probably mid 500's<BR />little credit history, though I do have her on my cc account.<BR />medical bills totaling approximately 6k (just got out of the hospital)<BR />makes maybe 14k /yr.<BR />no accounts currently in collections, but does have one that she just paid off.<BR /><BR />Looking for a loan around 80-90k, nothing extravagant. is this something that is reasonable considering almost all of my debt will be paid off (sans student loans and car)? also, what can we expect to have to put down/interest rate/ etc?<BR />I'm just getting started on this process, and I'm a bit overwhelmed! Thu, 07 Aug 2014 04:32:44 GMT https://ficoforums.myfico.com/t5/Mortgage-Loans/first-time-home-buyer/m-p/3320166#M152778 Anonymous 2014-08-07T04:32:44Z https://ficoforums.myfico.com/t5/Mortgage-Loans/first-time-home-buyer/m-p/3320182#M152779 forgot to mention, this will be for purchasing a single family home.<BR />my cc's are discover 4k/5.25k / ge capital 2k/6k another ge capital 300/2500 Thu, 07 Aug 2014 04:38:43 GMT https://ficoforums.myfico.com/t5/Mortgage-Loans/first-time-home-buyer/m-p/3320182#M152779 Anonymous 2014-08-07T04:38:43Z https://ficoforums.myfico.com/t5/Mortgage-Loans/first-time-home-buyer/m-p/3324080#M152860 <P>Using just your base pay, which I calculate would be around $2,770/mo, and with your current payments, even a $100k sales price shouldn't be a problem... so I'd say your chances are going to be pretty good.&nbsp; Because of your wife's low scores I'd suggest you just apply on your own, as her going on the loan would worsen the interest rates you'd get.</P> Fri, 08 Aug 2014 04:28:21 GMT https://ficoforums.myfico.com/t5/Mortgage-Loans/first-time-home-buyer/m-p/3324080#M152860 ShanetheMortgageMan 2014-08-08T04:28:21Z