FICO about 630. AGI 89,000. Credit Card & College Loan 31,000 debt

Asked by Jennifer, Peoria, AZ Sun May 13, 2012

Would like to purchase 1st home about 150,000. I am a school teacher and he has been with jis job for about 17 years. Will we be able to qualify?

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Shaukatali K…, Agent, Katy, TX
Sun May 20, 2012
Just to add to my prior note - ask for teachers loan programme.
They are out there when you shop for a mortgage . I know of a lender that does that.
0 votes
Richard Lueb…, Agent, Cypress, TX
Mon May 14, 2012
Good morning, I work with some Great Mortgage Banker's that can take care of all your needs. I specialize in the South Katy Area if you have any homes of interest please call so we can discuss your needs. Thank you and have a Great Day!

Best Regards, Richard Luebeck
Elite Texas Properties
12320 Barker Cypress Rd.
Suite 600-224
Cypress ,TX 77429
0 votes
Michael Schn…, , Katy, TX
Mon May 14, 2012
It looks to me that you would qualify, but again I am not a mortage broker. I do work with some great mortage brokers. Also, you might look to new construction which there is plenty of in this area, but please remember to use a realtor even with new construction because we would be working for you. I would be happy to help you in anyway, my wife is a teacher here in Katy, and I teach in Ft Bend.

Thank you,

MIchael Schneller
Houston Fine Properties
Katy Real Estate Services
0 votes
Shaukatali K…, Agent, Katy, TX
Mon May 14, 2012
Hello Jennifer,
With your score and income you would be able to get a loan.
There will be some issues which you will be best to answer.
Bankruptcy? past hsitory 12 months payments?? and so forth.
Please visit a ortgage advisor or I can email you a contact also.
She will be glad to explain you and also will be able to pre approve you for a loan.
Call or contact me for any information you may need.

Kadibhai (Kadi)
Prudential Gary Greene, REALTORS - Katy
Phone: (832) 228-7978
Fax: 281 646 1841
0 votes
Bryan O'leary, Agent, Katy, TX
Mon May 14, 2012

I'm sure you, or combined you and your husband will qualify as long as you haven't filed bankrupcy recently. The question is for how much, and where are you looking to buy? Just contact me and I'll send you 3 mortgage companies that will have to fight over your business.


0 votes
Stuart Schol…, , Sugar Land, TX
Sun May 13, 2012
Low interest rates will be with us for at least 6 to 12 months more. Why don't you get serious and pay down debt (esp. CC debt) and see what that does to your credit score. You guys make enough money to pay most or all of that 31K in 12 months if you put your mind to it. Not the most popular answer....but it will pay off in multiple ways. Less debt.....much higher credit score (lower interest rate on mortgage), less stress on your family and you can work on a discipline that will help you to build wealth and not pile more debt on top of old and easily manageable debt.
Set some goals, make a plan and a budget and then execute. Be faithful to the plan and budget.
You can do it!!!
0 votes
Joni Richards, Agent, Katy, TX
Sun May 13, 2012
You might qualify for an FHA loan with that credit score although the gov would really be looking at you with a microscope. What are your monthly payments on the 31K? That question would need to be answered plus if any of your student loan is in arrears, it would be have to be made current.
So....really need more information. Thanks for asking. Good luck!


Joni Richards-Realtor
Creating Memories, One Home at a Time
Cell: 713-208-5599
Tel: 713-465-0524
Genesis Reatly
0 votes
Monthly payments on debt are about 850. Not in arrears. FICO estimator has me between 640-680.
Flag Sun May 13, 2012
, ,
Sun May 13, 2012
I see nothing holding you back from what is posted.
Apply with confidence.

Tom Burris
Mortgage Banker
(214) 763-4629 cell/text/nights/weekends(Really!!)
Lending all across the entire Great State of Texas!!
NMLS# 335055
Search Dallas area MLS for FREE. No registration =>
0 votes
Dallas Texas, Agent, Dallas, TN
Sun May 13, 2012
Recommend to confer with mortgage broker you can review your loan application many other factores are consider when applying for a home loan.

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
0 votes
Jennifer, Home Buyer, Peoria, AZ
Sun May 13, 2012
oops! I forgot to add that we have 12,000 for a down payment
0 votes
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