How difficult is it to get a mortgage these days, post-subprime collapse? Am I qualified to get one?
I live in the Philadelphia area. I have two jobs(one full-time job that I’ve been at for over 1 yr, and one part-time job for extra money) and an annual income of about $ 32,000.
Overall my credit is good. My TransUnion + Equifax scores are in the 720-730 range. My Experian score is in the 690-710 range due to a long-ago public judgment from 2002 that’s been paid in full since 2003(the judgment only appears on my Experian report). I have a good mix of credit and it’s all paid current/on time. I have several credit cards(all cards paid off in full to ZERO), a paid-off personal loan, a car loan(I owe only $ 7K of the original $ 26K; it’s a 6yr loan that I’ve had for 2.5yrs now), and a student loan(I owe a little under $ 10K; my payments are $ 105/mo).
Could I “handle” a mortgage or would I get rejected? Right now I’m paying over $ 900/mo for a 1 bedroom apartment, which I think is downright b.s. I’m hoping to get a house that costs between $ 140-180K. What do you think?