My fiancé and I are going to try our luck at getting approved for an FHA loan today. I wanted to get an idea from anyone with a little knowledge on what our chances might be. Here's some of our basic information: I have two credit cards, one $700 card, and one $500. I have $1,000 worth of debt on those (wedding expenses) but I always make way more than the minimum payment on both. My car is completely paid off. I have no children or student loans. My credit score is a 685. My gross monthly income is between 1,200-1,500. My fiancé has no credit cards. His car is completely paid off, no children, & about 15,000 worth of student loans. His credit score is a 612. His gross monthly income is $1,480. We are looking at homes in the $89,900 range, with monthly mortgages no higher than $550. So, how does our situation look?
Read more: Will we be approved for an FHA loan?
