Hello to the great people of the great community.
I am planning to buy a 1+1 apartment flat around Feb-March 2021 and I am not sure if I would be approved for a loan.
Here is a breakdown,
* When I look at the Experian app my FICO 2 Score is 735. Not sure if this is the score lenders look.
(by the time I apply to the loan I believe this score will be much higher, probably around 750)
* I am a green card holder, living in Miami for 2 years now and will be applying to loan alone. Right now I am living with my sister as a tenant. We pay the rent 50/50 but the contract is on her name. I don't have any bills reporting on my name.
* My total income is $50,000 annually and currently working as a UI-UX designer in a fintech company for 1 year.
(I also have a job history for 1 year in a different company)
* My credit file is thin as you would guess (1 year right now) but I do AZEO and have never spent more than %3-4 of my limit. No baddies whatsoever.
* Right now I have around $15,000 in my checking account and probably by Feb 2021, I will be able to put $25-30K as a downpayment.
This amount includes the loan expenses, so in reality, I will be putting $20K as a downpayment.
* I am looking for a 1+1 apartment max value of $200,000. ($170K-180K would be best)
* I can't make my sister co-sign the loan because she has lots of bad reports and low credit. (she is living in the USA for 18 years now)
Is there anyone that has been in the same situation or have any idea what direction I should take?
Which loan types I should be looking for? Your advice would be greatly appreciated, thank you.
Currently I have these credits and my daily driver is discover and never exceeds %3 uti.
Discover $1500 cli
Apple card $1500 cli
paypal credit $250
My previous job was in the same field of work but different area, it was graphic designer position.
Probably lender wouldnt ask but I have 2 more years of experience in this field, which I established in my home country. Thank you for the reply.