I’m going to talk to a loan officer tomorrow to see how much I will qualify for but I’d appreciate any advice. Here’s my info:
- Credit. This I don’t know. My reports are clean except for 1 open collection on Experian for $242 (DOFD is 2008). If they tell me to pay it in order to close, then I’ll pay it. The last FICO score I have gotten was in Oct 2011 from AMEX (Experian was 670).
- Income. My base income is 32,500 but my W-2 from 2011 and 2012 are 37,200 because of overtime.
- Source of income. 6.5 years with the same company
- Monthly debt payments. I have one CapOne card reporting 300 out of 1500 that I can pay off anytime but it is at 0%
APR so I wasn’t in a hurry to pay it off. My other cards are paid in full before the statement cuts. I also have student loans (20k) but they are deferred since I will be in school for 2 more years.
- Employment. W-2
- Assets/Reserves. 14,000 in savings for down payment (can be 18k when I get my refund)
- Location. Boise, ID
- Property. single family house
- Value. Maybe 150K if I qualify?
- Occupancy. Primary residence,
- Transaction Type. First Time buyer
2. Should I have my credit pulled tomorrow? Will they be able to give me a good estimate w/o a credit pull (if I bring my own reports)
3. I am planning to go with conventional. Will they add my student loan debt to my DTI?