Hello all!!
I have been doing EXTENSIVE research on this particular loan. And it looks to me if it is used correctly, it can come with a gigantic payoff.. the goal is to house hack a duplex or better. Currently reside in NYC.
here's where I stand when it comes to my credit profile. I often leverage my credit cards.
Scores are 780-795 FICO summary on experience when my cards aren't being leveraged for investments (last recorded November 2020). Not sure about my mortgage scores.
0 Collections
0 Late Payments
5% left on my SSL with NFCU
Total Credit Profile Worth: 19k
Average age of Credit: 1.3 Years
My income for 2020 came out to around 30k. With the help of the stimulus we received... and good good holiday season. And for this year, things are starting off mighty nicely!!! I'm working on making as much as I can this year to reflect on my taxes next year..... that will be my second tax return of self employment history.
with this information..... will I be approved? I will be going into this as single. I have read it'll cost me nearly 9% total for the whole loan. Which I am currently saving for. My savings are around 13k .
Thank you to all that can help. This is all very new to me, and I hope to really get the ball rolling with this as soon as possible
