Mortgage enhanced scoring v. Credit card pulls?

[MovingForward_2012]

You're welcome. Best of luck to you!

I should mention that with $20K down, you can afford $20K more house. So based on your income last year, you would qualify for $152K max. Keep in mind this max purchase price assumes minimal debt so your preapproval is likely to be a little lower.

My bonus was included as income because I showed that I have been receiving it for 6 years. It usually has to be consecutive and received over a period of time to be counted.

[nada9188]

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@MovingForward_2012 wrote:
You're welcome. Best of luck to you!

I should mention that with $20K down, you can afford $20K more house. So based on your income last year, you would qualify for $152K max. Keep in mind this max purchase price assumes minimal debt so your preapproval is likely to be a little lower.

My bonus was included as income because I showed that I have been receiving it for 6 years. It usually has to be consecutive and received over a period of time to be counted.

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For the amout are you saying I will qualify for a loan of 152+20K down=house value of 172, or 132 mtg+20K down=152 total? 350/mo car loan may cut into that. ..

[MovingForward_2012]

$152K total which assumes you put $20K down. And yes, your car payment will cut into that.

[nada9188]

Pulled my eq fico today because my last cc updated. 14/9000. All others at $0. Currently it has no inq's and is at 754. Exp has three inq's, all coming up on a year old. Shouldn't be too far off.

[JM-AM]

1 Customer service position from one entity to another entity shouldnt be much of an issue. Simple explanation is more money (pay raise).

2. Your scores technically play no impact on how much home you can buy. But a lower rate is a little more home you can buy.

3. Your income will be the determining factor on how much house you can afford. It will be your gross income taken into consideration less your debt obligations.

4. Your downpayment will also play a factor into how much home you can afford.

Some will argue the point to purchase as much as you are approved for since rates are low and home prices in general are lower also. In my opinion this can actually become a disaster, point in mind our housing market with foreclosures and loan modifications today. I am in no way implying that you or anyone else would run into financial issues down the road, but the reality of it is things happen, especially when we least expect them.