We try to buy a condo and we would advise us. I have a credit score around 620-660. a car loan in the past paid. We have a car loan (two years left), a loan of furniture (7 months left), and two cards with low credit limit (500 and 300) nor more than 80%, but we pay every month in good quality in the past two years. I had 3-series (utility and medical bills) from 2002 to 2006, but they were all paid in the past year. The only problem is that it has sent a $ 50 Qwest regard to the collection of Jan, this year without my knowledge, but once I discovered was paid. And I kept all receipts paid. I will be no progress. What is the possibility of qualifying for a mortgage of 180,000? If so, what is the possible rate and monthly payment?

Sure.

The question has to do with debt ratios. A rule of thumb is that you a mortgage to be lodged about 3 times your annual gross income (before taxes).

In general, lenders will allow you to spend 28-33% of your monthly gross income of your mortgage payment (including property taxes and insurance).

Your level of total debt (mortgage payments on the car and the minimum payments on revolving balances would be no more than about 38-43% of your monthly gross income).

These numbers are general guidelines and realistic for your situation could be different.

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