No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Greetings, I've been using this forum for years when I first started my credit journey (at 19 years old I believe) and it's because of this forum I was able to build a strong credit profile over the past few years and now it's time to reap another benefit of being a good boy haha.
I am looking to begin the process of purchasing my first home (realistic purchase date sometime in 2021).
Demographics (2019)
Potential House
I have no idea where to start. I've read the basics of FHA vs Conventional....but just like when I was researching how to purchase my first car, there was too much information out there. So I'm asking for your cut and dry to the point suggestions.
Thank you
Wow, look at you! So responsible and so young! You should be very proud. Just wanted to say Congratulations!
With your credit score, income and DTI, research conventional loans.
Thank you, everyone, for the kind compliment! I truly appreciate it.
Should I seek out a realtor so soon? I know Chase and Penfed offer assistance with the whole process but I'm very protective of my credit report so I'm not flirting with seeking pre-qual for a mortgage as yet.
Would they even give me the time of day if I am so far out from pulling the trigger?
@Anonymous wrote:Thank you, everyone, for the kind compliment! I truly appreciate it.
Should I seek out a realtor so soon? I know Chase and Penfed offer assistance with the whole process but I'm very protective of my credit report so I'm not flirting with seeking pre-qual for a mortgage as yet.
Would they even give me the time of day if I am so far out from pulling the trigger?
Personally, I would NOT apply for pre-approval until you are ready to pull the trigger. What you should do now is call them and begin asking all of your questions now before you apply. You want to have as much information as possible before you get into the actual process.
Don't feel bad if you call multiple times. If they want your business, they will provide the info.
Hi OP
Honestly, since 2021 is your timeline, it is extremely too early right now.
So, in the meantime, keep your scores high like you’re doing.
Make sure nothing negative happens to your credit history 12 months prior to applying for a mortgage.
Continue to make all payments on time, keep UT very low, and keep inquiries to a minimum.
At this moment in time, taking into consideration your DPs, conventional may be the best option if you have the down payment.
The reason it’s difficult to provide info now is because a million and one things can happen between now and 2021. You could get married, lose your job, get a humongous raise, hit the lottery, start your own business, have a job transfer, etc.
I say keep on the track you’re on because you’re doing well and come back with questions 6 months out.