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Help with qualification!

Auto Loans for ANY Credit Situation. Immediate Response.
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Help with qualification!

  1. Mortgage Credit Scores:

    • What are your fico MORTGAGEcredit scores for each mortgage applicant?  658 Mid (658,658,657) as of 10/12/16

 

  1. 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)

 

  1. Gross Income. $95K/yr
  2. Source of incomeW-2 Employment (Salary)

 

  1. 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*

 

  1. 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

 

  1. 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).
  • Savings, $5000
  • Checking $3000
  • IRA $12500
  • Gift  $5000

 

  1. 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

 

  1. Property Description:

Single detached house, New construction

 

  1. Property Value$355,000

 

  1. Occupancy
  • 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

 

  1. Transaction Type: Purchase

 

Misc:

$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.

First-time home buyer.

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