What are the chances of being approved for a mortgage loan when your credit is perfect except for one auto repossession?
How long ago was the repo?
Does it report a deficiency balance or shortage?
IF so, how much?
If so, is there a monthly payment amount being reported? (this may or may not be your former payment amount)
Many lenders will pull in data directly from credit report and I've seen mortgage loan approvals using former payment amount as part of one's dti. With that being said, I've also seen a $12,000 shortage derail all hopes of an approval. So to answer your question, unfortunately, we must ask more questions but still could have difficulty answering your question as it depends upon the situation and circumstances surrounding said event.
Hopefully you've recovered from whatever circumstances caused the repo incident and your back to more stable conditions that are allowing you to pursue home ownership.
If "everything else is perfect", your FICO8 Classic is around 760, right?
If so, approved -- and they'll ask about the repo. Were you a cosigner?
What does "perfect" mean?
What are your 3 FICO scores?
My credit score is 670, Annual income is about $80,000 and I've been repositioned about 6 years ago and there isn't any recent unemployment?
You should be fine. I had a foreclosure and a repo from almost 6 years ago on mine as well and I just closed on my house on Jan 26.
It's your DTI that usually makes or breaks a loan when everything else seems perfect.