We are about right in the same income level. We were preapproved up to $312,000 but we are buying a house for $212,000. The number of bedrooms you can have is dependent on your household size from what I was told. It has to be "modest". We have a family of 5 and are buying a 5 bedroom. They were including TV's and a pool table in the sale, but they had to remove that from the contract because it made the sale excessive. We get them anyway though. I was told no inground pools also.
really!? I didn't know the rooms etc mattered. Where was your DTI if you dont mind me asking?
I am working now to pay down my credit cards completely to knock out some of the DTI. Was the process pretty smooth?
Do you mind sharing your experience with usda and the process i am preparing now just paying off debt so i only have 2 credit cards left with a total dti of 28% i am single right now getting married in few months should i even put fiance in application she has bad credit and doesnt make enough on paper as she gets alot of cash.
The reason for the high interest rate is because your downpayment is going to be low. The credit score limit for a FHA loan is usually around 600. You seem to be fine with a 702. If you could i would trying putting down a bigger downpayment. This would hopefully bring your interest rate down a bit.