What are your fico MORTGAGEcredit scores for each mortgage applicant? 658 Mid (658,658,657) as of 10/12/16
Credit Negatives:If you have any, what negatives are on your credit reports. For each negative, please provide:
Student loan lates in 2015 (4x 90day +), 3-4 30 day lates on credit cards from 2015 and prior), no lates in last 12 months. No collections or judgements, no liens or anything else)
AAoA 1.2 years, oldest account 9 years, 48 total accounts (38 revolving, 10 installment, 1 AU acct)
Gross Income. $95K/yr
Source of income. W-2Employment (Salary)
Monthly debt payments.
Student loan $98, Auto loan $610
Have about $15K in revolving debt out of $110K limit so sitting around 16% util according to myFICO.
*All revolving debt will be paid off at least 45 days prior to closing*
Employment(for those who are employed).
Type of employment: W-2 Salary
How longhave you been on the job 1 year, previous employer for 7 years
How longhave you been in the industry/career field. 8 years
Assets/Reserves. This is to determine how much you could potentially have as a down payment and also as reserves to help qualify (for example if your debt to income ratio is high this could help qualify you anyway).
Location:This is to determine govt guaranteed loan limits, what special programs might be available for you, how much property taxes & homeowners insurance will likely be, amongst other items. Orlando, Orange County, Florida 32824
Single detached house, New construction
Property Value. $355,000
Primary residence yes
How many people living there, incomes even if not applicant, elderly, disabled. (Needed to determine eligibility for some programs) 2 people
Are all mortgage applicants going to be living in the house? yes
Transaction Type: Purchase
$9000 closing costs from builder for any lender, estimated closing in June 2017. No coborrower, 5% down.
Member of NFCU and USAA as well, but not military.