Current or reasonably expected income or assets: earned income $60K
Current employment status: employed 1.3 years with benefits, 5 month gap. Working in same field prior.
Monthly payment on the covered transaction: $775
Monthly payment on any simultaneous loans: $200 (student loans on $25K balance)
Monthly payment for mortgage-related obligations: $300 (taxes plus insurance)
Current debt obligations, alimony and child support: $700/mo.
Monthly DTI ratios: very small (No credit card debt, vehicle debt or any others)
Credit history: bankruptcy 9 years ago (2005). 700 credit score
Cash on hand: $4000
Divorce: Initiated divorce in 9/2013. Judge ordered us financially separate from this point forward. Divorce finalizes in March.
given this situation would I be able to obtain a first-time homebuyers loan with the new underwriting guidelines of 2014?
Read more: Do I have a chance to obtain a mortgage in my situation?
