We are First time buyer’s! FHA? Need some advice!

[Valentin Petca]

Hi my name is Valentin, my wife and i are ready to buy our first investment property! 

We want to buy a duplex in Cleveland Ohio, more specific Shaker Hights! 

I have looked at the requirements for 2019 FHA and we believe we are meeting all the criteria's!

We need some help! We need some contacts for a mortgage broker and a real estate agent to start with for Cleveland area! 

Any suggestions are very welcome! 

Short story about our financial situation! 

We are looking to buy a place for 160 k! 

Savings = 17 k 

We own a semi truck = 35 k ( considering for net worth)  

Last 2 years of taxes! 

2017 - 65 gross and 26 profit “together “

2018- 110 gross and 50 profit “together “ 

Credit score:

Me 741

My wife 767  

We have some debt in credit cards! 

Debt: me -12 k ( credit limit 31 k but one of my friends put me on his credit card 2 years ago to help me with my credit so is actually 41! 

           My wife-2 k ( credit limit 13.6 k)

We have no loan or mortgage payments!  We don’t even have rent because we are truck deivers and we live on the road! 

We have few questions! 

Do you guys think our debt to ratio is to high! Are the credit cards debts to high? Should we lower them before applying for FHA?

We start our trucking business one year ago, but had other jobs before this! 

Do we need to have the same job for two consecutive years? 

Please tell us your opinion about our situation! 

Do you think we are ready to apply? 

Thank you all so much! 

Can’t wait to read your answers!