Guys,
I'd like to apply for a mortgage sometime in March of 08 (near end of my apartment lease). My vitals are as follows:
Equifax FICO: 671 (and climbing)
Debt = $462/month (mostly student loans)
Income = $4910/month
Savings: $5000
(2) years in current job since I graduated from college in same field.
No deliquent credit accounts (no late payments).
I live in an expensive market (Seattle) and would like a $250,000 loan for my first home. I'd like a 0 down loan to keep my savings for emergencies.
What are my chances of getting a 250K loan at a decent interest rate. I'd like to keep my total PITI payment around $1800.
How possible is this?
Any advice is greatly appreciated.
Thanks