Will I qualify for FHA?

[Anonymous]

• Income is 55k
• no revolving debt
• 25k student loans deffered currently in graduate school
• 60 day late on a CC from january 2011
• 30 day late on a CC from january 2011
• 30 day late on a CC september 2010
• myfico scores 675 and 684 just pulled
• 16 months of work history entered work right out of college

Will I qualify for an FHA and if so any guesses on what i could be approved for?

[boomhower]

After Jnauary most likely.  FHA is very critical of the previous 12 months.  Once those lates are off you should be fine assuming your scores are up to par.

[Holly1221]

The lates won't go away but I know as they age their effect on your score is less.  I have student loan lates from 2006 showing on my report.

And depending on what lender you go with, some allow as low as 580 minimum for 96.5% LTV...which is what I am going with for my scores.  I'm not at closing yet so not sure what else can come up but my score is "perfect" (ha ha...but that's what the lender said for my 3.5% down).  Waiting on appraisal issue to get resolved right now.

[JM-AM]

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@Anonymous wrote:

• Income is 55k
• no revolving debt
• 25k student loans deffered currently in graduate school
• 60 day late on a CC from january 2011
• 30 day late on a CC from january 2011
• 30 day late on a CC september 2010
• myfico scores 675 and 684 just pulled
• 16 months of work history entered work right out of college

Will I qualify for an FHA and if so any guesses on what i could be approved for?

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The one thing I can say will be an issue is your employment. FHA wants 2 years of employment history. So in about 8 months or so you should be okay to qualify and those few baddies will age some.

No way for any one to determine what rates will be available in several months from now to even give you a guess on anything.