Will we qualify, VA or conventional

QuestionsWill we qualify, VA or conventional
dealpal Staff asked 3 years ago

Wife and i looking to start a home loan purchase around end of May. As of now:

Mortgage scores
Wife: 698,697,701
Myself:760+ all 3
Wife: 58000
She’s getting promoted to HR manager, might have higher income.
Me: stay home parent
She’s been with same company 2+ years, 4 years in industry.
W2 employee

Derogs: wife $ 741 med collection pfd ca reports next week so that will boost her scores as they reported monthly while in collections. No other derogs.
Car: 355/month
Student loans: 55/month
Credit cards: 50/month

Looking in lake county, Ohio, relocation from Arizona with approval for her to work remotely.
cc utilization under 5% for both of us
We’re looking at houses around the 185-215k range.

Thinking 10% down payment with VA loan due to conventional rates being much higher than VA right now. Leaving money for cosmetic improvements, moving, etc and money left over.

1) will we be approved?
2) VA or conventional and why?
3) Also bank statements look busy, we paid off high cc to bring utilization down to lower dti, had a party in remembrance of her father’s passing, eating out, etc. Would underwriters care with the amounts in savings and checkings?

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