Can I even hope to get a mortgage loan as a graduate student with a credit score of 777 and annual income of $25,000?

what is your source of the annual income?? that is the first place that we need to start at .. linda yourloanpartnerforlife@live.com

ok that will work for your income.... linda are your student loans, they should be deferred?? and please do not use your credit cards to the max amount , it will destroy your fico score.. the roommates are not part of the consideration when applying for a loan, even with a lease , cuz that can change, but it is used for extra security.. how long have you been renting ?? linda email is yourloanpartnerforlife@live.com

Absolutely! If you've been attending college for at least the past two years and can show that your income will continue for the next three years, you should have no issues at all. For the home you're currently renting, you can treat it almost like a refinance if you can prove that you've been making the payments for the past two years. As someone mentioned earlier, try to keep you credit cards below 1/3 of your limit and your credit will be fine. As a local Florida lender, we're currently offering an interest rate special and an appraisal credit throughout the month of February. www.centralflmortgage.com

Possibly but only the annual stipend counts as income, and in order to be considered as income it must continue for 3 years after you close on the house. Roommate "income" only counts if you can prove a history of having received it in the past and reported it on your taxes. Whatever monthly debt you have, including monthly payments on credit cards, will reduce the amount you can borrow. As Linda said previously, do NOT charge up your credit cards that won't help your score - that is fine, it will be your income that makes a difference. Are you in a medical or other PHD program? There are a couple banks that have programs for medical residents where the guidelines are very flexible.

The short answer is "yes".. but without looking at your complete profile, it's hard to say for sure, since so much more is considered when determining one's eligibility.. Also, with $25K annual income, you'll be looking at a relatively inexpensive home.. current guidelines require your Debt to Income not exceed 43%, which would mean all your minimum payments on your debt including the new housing payment cannot exceed $895 per month.. Which doesn't leave you much room.. Also, the potential rental income would not be considered as income since you have no history of receiving rental income now.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com