To Appy or Not to apply…

Tips and Deals Forums Home Mortgage To Appy or Not to apply…

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 8 years, 1 month ago.

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    I’ve been monitoring out credit reports for several months and paying off as much as we could this last year. According to our LO we have to have a minimum of 620 to get approved for a home. Today I got notice that my scores are TU 642 Ex 641 EQ 635. His are TU 635, Ex 634 and EQ 642!!!! I’m so happy and I want to just jump in and apply right away, there’s a darling house for $110,000 I’m just dying to have*and we have a down payment of $4,000 meeting the 3.5% required. However, we do still have some things to pay off. The majority of which are medical bills, we have no credit card collections left. Just medical, a cell phone bill and a cable bill. It will take us about a year to pay the remainder off. All of these things are older collections (mostly ’06 and ’07 and 2 medical at the beginning of ’11) We have an income of $60,000 a year and he has been at his job for 3 years and mine at 7.* We have*3 credit cards with low balances (or at least they’ll be low friday lol) car payments at $545 a month and a student loan at $50 per month and we have not been late on ANYTHING in 2 years. Should I go ahead and apply or wait another year? The rates are so good right now and I found the perfect house so I’m feeling quite impatient. :smileywink:

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