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So here is my case: I have been at current job for four years. My income is $60,000 a year. DTI is 30%, All scores between 643-672. I want a FHA loan. I have the 3.5% downpayment. I have eight credit inquires from buying my truck in 2014 which the dealor double pulled two different days which doubled the original four HP. I wont have any HP on my reports in July 2016.
I have a few collections set to fall off:
Mid 6/15 T-Mob
Mid 7/18 Gym (disputing)
CAC 8/15 medical
Rd2 12/15 medical
CCI 8/16 medical
Amcol 1/19 medical ($1426)
Kansas Counselors 4/18 medical ($314)
Credit Cards:
Barclays $4800 (balance $3764)
Quicksilver $1500 ($692)
Paying the balances down to 10% util by May
Should I wait for all of these to fall off before applying for a home or does my current situation allow me to possibly get approved?
"I have a few collections set to fall off:-
Mid 6/15 T-Mob
Mid 7/18 Gym (disputing)
CAC 8/15 medical
Rd2 12/15 medical
CCI 8/16 medical
Amcol 1/19 medical ($1426)
Kansas Counselors 4/18 medical ($314)
A few collections??
Are you trying to insult me? Please post something constructive and not troll. You can just roll past post because I'm sure you have a 850 guy.
Are you trying to insult me? Please post something constructive and not troll. You can just roll past post because I'm sure you have a 850 guy.
Not hardly a 850, but I digress. Lighten up, nobody tryin to insult ya.
But to answer your question, I wouldn't do anything with collections set to fall off this year, or a little later. I'd let them do just that.
The newer stuff I'd go to work on.
BOOMER!!!!!!!!!!!!!
just apply. its free.
let us know how it goes.
Sooner!!!!
What about the credit inquires?
inquiries are overrated.
dont sweat them.
Thanks for the feedback! I wanted to drop my UTIL and do PFD for the two medical bills this weekend. I will give it a shot and see.