400k loan with fair (now) credit and good salary?

My wife and I are hoping for a loan for a 400k house but I've had credit issues in the past. Mainly high balances and late payments. My last late payment on my credit report is Dec 2009. There were two 90 day, one 60 day and two 30 day late payments. Everything has been paid on time since then including a Mortgage I was on with a family member until Dec 2010 (He re-mortgaged on his own)Outstanding CC balance of 2k401k loan of 37k (will be paid in full in 2 months. Does FHA count this?)Our monthly car, student loans and cc payments total 800/month. My 401k payback adds about another 800/month.Combined salary of approx 130k a yearApprox 110k in our savings. We're planning on putting 20% down.My middle credit score from freescore or some site is 682. My wife's is high 700's but she just started working and only accounts for 30% of our income.I have 10+ yrs employment history with the same company. Any advice is much appreciated!! by rocketshawn from , . Jul 25th 2011 Reply