mason Posted March 9, 2005 Report Share Posted March 9, 2005 DH and I are about to mortgage shop (after I fight new ca's that just jumped out of nowhere. ). We're not ready to apply yet, but would like to start looking at houses. DH makes about 60K a year, his income is expected to increase this year. He's been at his company since November, but has been in the same field for 10 years. Credit scores were in mid-high 600's before the new collections, not going to apply until I get those off. (I'm not going to be on the loan). We're interested in going with an interest-only mortgage. Anybody have a general idea what the max. we'd qualify for so we're not wasting time looking at homes we can't get. Link to comment Share on other sites More sharing options...
firstsource Posted March 9, 2005 Report Share Posted March 9, 2005 In order to give you a good guess, how much are your minimum credit cards, plus your car payments? How old are the charge offs you have, if any?What state do you live in?Charles Link to comment Share on other sites More sharing options...
mason Posted March 9, 2005 Author Report Share Posted March 9, 2005 In order to give you a good guess, how much are your minimum credit cards, plus your car payments? How old are the charge offs you have, if any?What state do you live in?CharlesI'm in Ohio. Credit cards will be paid off by the time we apply. Car payment (lease) is $359 a month. I'm trying to get charge-offs deleted before we apply. It's from 2002. Link to comment Share on other sites More sharing options...
firstsource Posted March 9, 2005 Report Share Posted March 9, 2005 I would say you could qualify for a home in the 275K range. Charles Link to comment Share on other sites More sharing options...
mason Posted March 9, 2005 Author Report Share Posted March 9, 2005 Thanks! That helps so much... Link to comment Share on other sites More sharing options...
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