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