Jon, noticed you guys were not just "military friendly", but also veterans yourselves, thank you for your service.
A little back story on my current situation: I'm 42, a disabled Navy combat vet with 100% P&T (3,500.00/month) & SSDI (1,200.00/month)- since 2011/2013. My wife is my caregiver for 7 years paid through the VA (4,900.00/month non-tax). If we use the .25 % multiplier it would be upped to 12,000.00.
Combined Income non-tax (9,600.00), we're currently renting in Northern California - (2700.00/month) in rent with one car payment (863.00/month) and my LOC credit limit: 4,000.00 for 5 years at (170.00/month) had it since (Dec/2021). I have a target credit card, capitol one credit card, and a wells fargo credit card in addition to the line of credit (4,000) mentioned above. My auto loan from Oct/2020 - 60k - paid down now currently at 45k.
That is all we have for debt.
All our credit card debt is 0 as of current but my line of credit - which we plan to have paid down to 8% utilization (AZEO method) for the biggest boost in credit score.
MY credit scores: EX: 718 EQ: 728 TU: 705
Wife's scores: EX: 705 EQ: 710 TU: 700
She is on the car loan - as well as, she has a credit card through wells fargo and capitol one; along with a retail account (care credit- for my service dog). All accounts are 0 balance but one at 8% utilization just like myself above.
We don't have any other debt obligations other than the above stated.
I requested my COE through ebenefits portal last week - still waiting on it to be issued. I have the FULL entitlement as we haven't used it before. Exempt from funding fee and 0 down as I take it. We don't have a lot in savings as of current - but will have 5k - 10k through closing. Thus, we used every penny to pay off debt and solidify our credit score!
We don't have any negative information on our credit file no liens, judgements, bankruptcies, etc.- exceptional payment history for both of us.
Moreover, our credit is fairly strong/no debt/ strong income(debt to income is 8.6%)/ small savings - we hope to raise our scores above 720+ by May 1st. This is when we plan to actually have a hard credit pull to start the pre-approval process on or about May 1st - we are ready!!
Budget: 400k - 550K looking to buy in Southern Florida - Naples, Ft. Myers, or Cape Coral - in this order - would love to be in Naples - my dream choice! I would be exempt from property taxes, PMI, etc.
What kind of rates would we be looking at based off the above picture? Sorry for the long winded message..... thank you again for your time and your service.
Look forward to hearing back from you, regards, Steve.