Me and my wife are first time home buyers in Texas and Im a little nervous if we will get approved for a loan that will cover the house. The house we are looking at is a new construction costing about $245,000. We have to have $5000 earnest money at time of signing then we will apply for the loan. This will occur around March 1st 2022. At that time will will have the earnest money plus about $1700 in savings and about $2000 in credit card debt. Gross Income between wife and myself ($8600 a month) Additional income (about $1500 a month in consistent overtime work and secondary employment)
Expenses: Rent, water, electric- 900 Phone-150 First Car- 271 Second Car- 240 Student Loan 1-160 Student Loan 2-350 (can be adjusted to 160 but will take twice as long to pay off) Student Loan 3-276 Student loan 4-205 Car and Personal Property insurance-260
Are we in good standings to get approved in yalls opinions? Thanks for any advice you may have
Edit: We are going for pre-approval on the same date as we get on the build list then the home should be ready around august 2022
Submitted December 03, 2021 at 11:15PM by NEWBY254 https://ift.tt/3xQLoZs
