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When to start the home-buying process.

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When to start the home-buying process.

Hello, Everyone-

 

So I am looking to purchase my first home in May of this year. I do believe I qualify, but I have included the info that I found was needed for you all to give me a good guess. I also would like to know if I should find a real estate agent or mortgage company/broker first, as well as when I should pull the trigger and start the process.

 

Mortgage info as of 01/03/2019

1) Mortgage Credit Scores:
• EQ-571
• EX-650
• TU-684
2) Credit Negatives:
• Ally Financial
i) Late Payments-Installment
ii) Paid
iii) DOFD-07/15
iv) Most recent-01/17
• Capital One
i) Late Payment-Revolving
ii) Paid
iii) DOFD-11/12
iv) Most Recent -11/12
• Department of Ed/Navient
i) Late Payments-Student Loan
ii) Paid
iii) DOFD-09/2013
iv) Most Recent-12/16
• Department of Ed/Navient
i) Late Payments-Student Loan
ii) Paid
iii) DOFD-11/13
iv) Most Recent-11/16
• Department of Ed/Navient
i) Late Payments-Student Loan
ii) Paid
iii) DOFD-11/13
iv) Most Recent-11/16
• Collection 1
i) Collection
ii) Unpaid
• Collection 2
i) Collection
ii) Unpaid
3) Gross Income:
• $51,000.00

4) Source of Income:
• Employment
i) Salary ($38,000)
ii) Commission ($13,000-Can show in last two tax returns a steady income of $51,000 a year)
5) Monthly Debt Payments:
• Total amount is $689
• Student loan in forbearance until 01/2020 amount is $25,891
6) Employment:
• W-2 (Base + Commission)
• 3 Years on the job
• 8 years in the business
7) Assets/Reserves:
• $50,000.00
8) Location:
• Ohio
• Franklin
• Columbus, Dublin, Hilliard, Grove City
9) Property Description:
• Single Family Home
10) Property Description:
• Price range of $150,000-$200,000
11) Occupancy:
• Primary Residence
i) 4 people living in home
(1) Income from others living but not on mortgage: $39,000
ii) All applicants living in the home
12) Transaction Type:
• Purchase

 

Thanks in advance!

 

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