Can I buy a house, with FICO 690, 22k yearly, and 21?

Great question- there is no doubt that if your middle credit score is a 690 then you would credit qualify for an FHA mortgage loan. To be honest with you 22k in verifiable income would not support a 150k loan no matter what you debt to income ratio is. However do you have anyone that would be willing to co-sign with you until you get your accounting degree and land a higher income paying job? Let me know if I can help in any way!

Hello,The main determination to buy is credit and income. You have a great score, but the amount to buy depends on a ratio based off your income. We also calculate other liabilities like auto payments or credit cards. That leaves you with the amount you would be "pre-approved" for. 22k would not get you a $150k loan though. The next step would be what area you are buying in. USDA has a great "no money down" loan in Alabama depending on your area being eligible. We can determine that if you gave me your property address. If you want to give me a call I can go over the basics with you and see what would be good for you. My number is (256) 749-7948. Hope to hear back!Jack Shields

hi there? At 150k, your debt ratio is a bit tight there.. You might be able to get approved depending on DU or LP automated engine's assessment. Decision is based on capacity, collateral and credit per my experience as a Junior Underwriter.. FHA can definitely go up to high 50% back end ratio I have seen and gotten approved at. How much are you comfortable with paying monthly max? Give me a call to discuss. Mike 703 505 5300