What are my chances for approval?

[700bound09]

Credit - TU -683, EQ - 745. No lates since 04, PIF medical collection 2-09 (trying to get removed thru HIPPA process), Charged off electric bill from 2004 $300, Unpaid Medical bill $1700. Utliz is around 40% on 3 cards (going to try and cut to 20% this month)

Income -  4500 gross a month

Employment - 5 years at the same company

Monthly debt payments - Car payment $286, CC $45 min payment, School loan $64, Furniture $65  

Assets/Reserves - 3.5% down for FHA. I have an addtion 2k in savings.

Location - Tx, Taxes est $3,200-3,600

Property - SFR

Value - Currently priced at 142k, Seller will contribute 3k in CC

1. Occupancy - Primary residence
2. Transaction Type - Purchase

[ShanetheMortgageMan]

I calculate your debt ratios to be 25/36, so that is looking real solid.  Credit scores look fine, and collections/charge-offs shouldn't be an issue either, shouldn't be required to be paid.  The seller credit of $3k won't be enough to cover all settlement costs though, so in addition to the 3.5% down you probably will have to utilize some of the remaining $2k.  I doubt you'd have any issues getting approved.