Asked by Luis McKarthy Vanugenhymer, Philadelphia, PA • Fri Dec 7, 2012
I want to get a mortgage to buy a home. I have been working for a non profit organization for the past 6 & 1/2 years. I work full time as a program manager and receive steady income. I recently just graduated college this past March. My credit score is about a 659 with 3 blemishes on record. All 3 blemishes are minor,($233 college bill, $354 & $550 medical bills)I am in the process of paying the college bill and the small medical bill to fix up those boo boo's. But my question is with a average 650-660 credit score and $3000 down on a $140,000 home(I qualify for up to $40,000 in subsidy) Meaning 3% of $100,000. Would I qualify? I am just really stressed out at this point. I already started the process of the credit report, gave a counselor 2 months of statements,2 years of tax returns. social and all that other stuff.I also have a $40,000 school loan from sallie mae,but I always pay on time. During income tax I always get like $5000 too. WYthink?I want to go for preapproval in Jan/Feb
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