First time buyer with concern about credit score

FHA & USDA are both good options that would work for you now.

Add your new loan payment, including the required mortgage insurance, to your personal debt. It should be less than 38% of your gross monthly income. Purchase now with a FHA loan, before rates and home prices go up. Ask the seller to pay all of your allowable closing costs.

I ultimately agree. F_h_a and u_s_d_a are both very viable options for you at this time. Seek out a professional and get a competitive rate and payment regardless of your scores. I would look at buying now for sure before rates continue to go up more than they already have.

I can do a conventional loan with 3% down for you. Will be a way cheaper payment than FHA and a more viable loan for you. I'm from Urbandale and my office is in WDM. Feel free to call me at 5153217041 or email justin@iowamortgagepro.com. No need to be nervous, I can guarantee you an approval.

You are qualified for all traditional mortgage products. If you are in a rural area the USDA Rural Development loan is your best option. If you are in a more metropolitan area, a conventional with 3 or 5% down serves as a much better option than FHA. Search for a Lender 411 Loan Officer in your area.

Based on the info provided, you shouldn't be concerned about the approval. Of course, you'll want a local professional to look things over to confirm your credit score, income calculations, etc. If all is as you say it is, you will not have an issue finding or qualifying for a loan.

Take a deep breath... This isn't as complicated as many people think. Your 670 is OK enough to get a loan, your income is well within acceptable affordability range for a $130,000 - and you have enough in the bank for an FHA down payment (3.5%). There may be other options, like conventional 5% down on a lower priced home, VA loans if you are a Vet, and USDA loans if you are buying in a rural area. My suggestion is go talk with a local Iowa mortgage broker... Stay away from the application clerks at the bank, and you should be in great shape. www.Minneapolis-Mortgage.net

With that score, DTI and down payment I would suggest going with a 3 % down conventional loan while they are still available. Your mortgage insurance will be slightly less if you are able to put down 5%. Best wishes

With that score, DTI and down payment I would suggest going with a 3 % down conventional loan while they are still available. Your mortgage insurance will be slightly less if you are able to put down 5%. Best wishes

You are in a good spot, based on score and income. Very smart looking in a range that you know you can afford long term. Be sure to pick a nice neighborhood and in a "growing area". Be sure to cover things with your real-estate agent about long term growth projections for the area you are thinking about. You don't want to be in a spot where the value goes down. Need pre-approval for a loan call me.Don McCartyAmerican Finance Group(919) 633-7505

I am not aware of Iowa marketplace but in many states there are first time home buyer programs that you seem to qualify for. In Illinois for example you would qualify for an IHDA loan that would give you 3% down payment assistance. You might even qualify for a FHLB program that would also give you cash for the down payment. I would seek out a local lender with fthb programs.

Good morning, I am a licensed broker and I have every loan product available on the market today, I have offices in West Des Moines. Please feel free to contact meat anytime. I have the lowest interest rates and my team is happy to help you! 515.224.0100 OR nsmith@teamusamtg.com Thank you!

Please contact me about options to borrow for residential purchase at 100% financing, rates from 4-5% with 10-30 year amortization period.Thanks,Jinggy B. CigrandBS Man. EngineeringMBA DeVry U New York '09Midwest Finance CorporationReiki Master(319)640-1209