Compare Mortgage Quotes

ityburroughs · Joined: 04 Oct 2009 Posts: 1 1.32 Dollars($)

Hi I am trying to purchase a home through FHA and my current monthly debt is $369.00 and my monthly income before taxes is $2560 what would be my changes of receive a mortgage of $88,054.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

I think based on this data there is agood chance, but FHA not only looks at Debt to incoemr atio but also other factors like

credit score - 620 is required for the FHA loan, that's minimum

Employment - you need to show two years of emplyment history

Down payment - minimum 3.5% down with MIP and an upfront MIP of 1.75%

jenkin7 · Posted: Sun Oct 04, 2009 11:43 pm Post subject:

Hi ity,

You do not have too much of debt obligations and your income also looks ok. Thus your debt-to-income ratio does not seem to be a problem for you. However, your credit scores are an important factor in determining your creditworthiness. What are your scores?

You can check out the How Much Mortgage Can I Afford Calculator to find out if your income is sufficient enough to get you approved for the mortgage amount you are looking for. You can also go for a no-obligation free mortgage consultation with the lenders in this community. They will assess your credit scores and your income and will let you know if you qualify for any mortgage loan program.

Guest

my current score is 680

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Thats good score for FHA loan

Now you need to low at otehr two items down paymanet and employment history

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1

Compare Mortgage Quotes

Am I qualify