After filing cht 7 in 2008 and waiting FOREVER for the USDA to foreclose, I have FINALLY been preapproved for a $ 180k FHA loan. My deed was transferred out of my name on 2/21/14 so, according to underwriting, I should be able to submit the formal loan request as of 2/22/17!!
She gave me a proapproval letter going FHA with a 4.25 interest and 5.11 APR? Should I shop this because it seems kind of high? Also, would it be better to use my income tax and pay down my credit cards or hold it for a larger down payment? With the loan my current DTI would be right around 40%
Current FICO 667