I agree that you should pay down some of the credit , but which ones? You really need to talk to someone who can go over your credit and advise you how to proceed. It's great to have 20% down but thats not going to help you get your monthly totals where they need to be!
I would be happy to do a free credit pull and prequalification for you at any time. You will then have the information need to make informed decision on what can be done to get you into the house
Horsham PA 19044
NMLS # 604188
Without knowing all the details...this sounds like a workable scenario. I strongly recommend spending a few minutes over the phone with Mike Yuhas at Susquehanna Lending Group (717) 821-4067 to get a definative answer. He is a mortgage broker and will have multiple options I'm sure. Let me know if I may be of further assistance to you!
Andy Rhine, REALTOR
KW of Camp Hill
It appears from the information you provided that you would, indeed, qualify for a mortgage loan, but you left out one important fact: how much are the annual property taxes?
Also, I'd strongly recommend sitting down with a local Mortgage Banker to get thoroughly prequalified. There are more than a few "glitches" we come across in the client's paperwork that could reduce the amount qualified for, or worse, prevent a successful loan approval.
Be sure the Mortgage Banker is Licensed with NMLS: National Mortgage Licensing System. You can verify all Licenses at http://www.nmlsconsumeraccess.org/
Trevor Curran NMLS #40140
If your income is $57,000 per year, you qualify for principle interest taxes and insurance of approx $937 per month. My answer is no you do not qualify. If you have more information to discuss then I suggest calling a local mortgage lender
267 992 7276
VOTED BEST OF BUCKS 2010
Looks like you are an excellent candidate to become a homeowner. Your best route is to talk to a mortgage lender to discuss all the options available to you. It is not only about getting pre-qualified or pre-approved. It is understanding what best suits your needs.
Best of Luck.