Hi there-
I'm finally getting close to ready to start the process to be a first time home owner. I plan on using the VA backed loan (unless there's a better reason to use FHA, etc in my situation) with our local credit union here in the Seattle area. I wanted to see what you guys thought as an idea of what you think I'd qualify for at this point in time. I don't have any outside assets except for what I've saved up so far for a down payment, which is around $25,000. One thing I am pretty worried about, however, is that I have a Chapter 7 bankruptcy from July of 2007. I have no bad remarks on my credit reports besides that, however.
To give you a little more insight on my situation:
My Fico Mortgage Scores
TU - 733
EXP - 725
EQ - 716
Income
Annual - $72k . Been at same place of employment for almost 4 years, however was promoted around a year ago from $56k to my current pay, so not sure if that will affect what I qualify for.
Debt
No outstanding debt. Credit card balances I pay off every month in full. I have 9 credit cards that have a total limit of $42500, but all but one have a zero balance currently. That one has a balance of <10%. Only other expense is car insurance, which is around $400 every 6 months.
Thanks in advance for any suggestions/info.
