2. Credit Negatives: If you have any, what negatives are on your credit reports. For each negative, please provide:- Type: Credit card charge-off; ~$4,200 (reporting on EX only)
- Status: Unpaid
- DOFD: 06/12
- Type: Student loan late payments (120 late)
- Status: Paid/current (Paid on-time since Feb 2012)
3. Gross Income. - Self: $231,000
- Spouse: TBD (Relocating out of state - Wife unlikely to have finalized new job prior to move)
4. Source of income.- Annual Salary: $185k
- Bonus (25%): $46k
5. Monthly debt payments. - Auto loan: $740
- Student loan: $140
6. Employment (for those who are employed). - Type of employment: Full-time (salary with annual bonus)
- Accepted position at new company requiring relocation (beginning late November)
- 10+ years employment in industry
7. Assets/Reserves. - Equity in existing home: $125k (new company offers guaranteed buyout on 100% appraised value)
- 401k: $150k (includes spouse)
- Cash: $40k
- Other investments: $12k
8. Location:
- Minnesota
- Minneapolis area
9. Property Description: - 5 bedroom single family home
10. Property Value. - Purchase transaction: $600k - $750k
Misc:
Family will be relocating to Minnesota for career opportunity. Mortgage on existing home is in wife's name only (my credit has improved since home purchase in 2014). Trying to determine our options for mortgage qualifcation with my income only. Thanks in advance for any input.
