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Yarrr
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Posted: Tue Sep 04, 2007 1:15 pm Post subject: Looking to buy in the future.. thoughts on my situation?
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I have a lease that I am sharing with my mother and will be ending in the near future.
My FICO mid last time I checked was 665; though I have paid off two loans since then, and decreased debt notably; the score should have increased a bit.
My salary at the moment is $42,000 (~$3200/mo gross), which I expect to increase to $45,000 prior to looking to buy.
My monthly debts amount to a total of approx $300. This entails two installment loans only (car and motorcycle). No revolving debt.
I will have approx $5,000 available for closing costs, and around here most sellers are offering closing cost assistance.
I am looking to purchase in the $170,000 range. (Northern VA, expensive area).
Any thoughts on making this happen? This is the ideal time for me to purchase as the market is soft, my income is steady, I have limited my debts, and I imagine I will be in this area for a good while. Is it doable? Am I in over my head and need to stick with a lease?
Thanks! _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant |
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Yarrr
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miller_st

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Yarrr
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Yarrr
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larry

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Yarrr
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Niicss

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Niicss

Joined: 03 Oct 2005
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