- Mid Mortgage 665
2. Credit Negatives: If you have any, what negatives are on your credit reports. For each negative, please provide:
- Type: BK7 : Discharged 6/14
- Status: Perfect credit since
3. Gross Income. Gross income (before witholdings, medical/dental, 401k contributions), per your IRS tax returns, is what is important when qualifying, not net income.
- Full Time Salary Job 1: $ 63,500
- Full Time Salary Job 2: $ 40,000
- Total Income: $ 103,500
4. Source of income. Where is the income coming from? List each source.
- Employment Type (2 Full time Salary Income)
5. Monthly debt payments.
- Credit Card Minimums: $ 25/mth
- Student loans:$ 40,000 with payments of $ 450/mth
6. Employment (for those who are employed).
- Type of employment: Salaried, 2nd Job is also full time Salaried
- How long: 9 mths
- How long have you been in the industry: 10 years
7. Assets/Reserves. This is to determine how much you could potentially have as a down payment and also as reserves to help qualify (for example if your debt to income ratio is high this could help qualify you anyway).
- I expect to have $ 8,000 in savings
8. Location: This is to determine govt guaranteed loan limits, what special programs might be available for you, how much property taxes & homeowners insurance will likely be, amongst other items.
- Genesse or Wayne County
- Detroit or Flint, MI
9. Property Description:
- SIngle Family Home
10. Property Value.
- Looking for $ 200-$ 225K
- Primary residence, 1st time homebuyer