Chances of getting approved FHA

Anonymous · ‎02-10-2009

So I recently found my score had went up! which s awesome! But, I wanted to see if that would increase my chances of getting approved. My current agent isn't great on communicating, so I'd like to weigh my chances first, and see if I should move on to someone else!Were in Michigan so...

Score as of 2/8/2009 620

The home we found is listed at $69,900

Income- 2008 - $22,000

2007 - $20,000 Work history 3.5 years

Monthly Debt- School loan $35.00

2 C/C- just paid off- both $0 balance

I have 3 collections, ALL from 2005, ALL PAID

$8000 saved for downpayment, and will have another $2000 by end of month

Any suggestions, pointers, advice, or referals would help! I'm getting married in October and would love to be in a house by then!! THANKS!

Anonymous · ‎02-10-2009

For one your salary most likely qualifies you for downpayment assistance grants and first time homebuyer programs through your local hud office. You should be able to get a fha loan and with your income baring taxes being extreme you should be able to qualify for a home in that prce range. Go here to get intouch with your local hud office,

http://www.hud.gov/local/index.cfm?state=mi&topic=offices

One thing to make sure is to apply by yourself so your income falls in the range needed for the assistance. Good luck

Anonymous · ‎02-10-2009

I am also in Michigan, Message me if you are not happy with your broker... My broker has been nothing but stellar

Message Edited by JP75 on 02-10-2009 07:10 PM