Will I get approved for a 30 year fixed FHA loan

Based on the information provided, you have an excellent chance of being approved for an FHA mortgage. You should speak with an FHA lender in your area, provide him with copies of paystubs (last 6 weeks), banks statements (last 2 months - all pages) and W2s (2007 and 2008), and have him or her run your credit to determine eligibility. Good luck!

Congratulations, it looks like you will soon be a home owner.

Good luck.

Based on the info you provided......you should have not problem getting financed. Good luck!!!!!!!!

Everything looks good, except for the $9500 in closing costs on a 155k purchase price. 

Check Zillow's lender list for another loan officer near you who can do a little better than that. 

You didn't list what rate you were being quoted, so maybe there are a bunch of discount or origination fees that are causing your costs to be so high. 

It is probably a good idea to make sure that you know how long your rate is locked for just in case there are any delays with closing that are out of your control. 

Here are some questions that a lender would need a clear answer to before your pre-approval would mean anything: 

1.  Income:

"100,000 average yearly income last 2 years"

Define - average. 

-  Is this your adjusted gross income?  Are you self-employed? Do those numbers reflect commissions, over-time, bonuses....?  Basically, how is your income verified? 

2.  Occupancy:

-  Is this going to be your primary residence, second home, investment property? 

-  Do you own any other real estate that may impact that 38% DTI?

3.  Down Payment:

-  Where is it coming from?

4.  11k in reserves:

-  Is that in your own personal bank acct, retirement, money from a credit line, or a gift from someone? 

-  How long has the money been in your acct, and are there any large  deposits that may raise questions from an underwriter? 

5.  670 Fico Score:

Great job, but we need to dig a little deeper.  I think that your "clean for past two years" answers the following questions, but they still need to be considered by the lender who pulls your credit report. 

-  Do you have any verifiable credit history?  How long, and what is it?

-  Are there any judgments or tax liens on your credit report? 

-  Recent BK or foreclosure? 

-  Child support? 

-  Consumer Credit Counseling? 

6.  Other: 

-  What does your past two year's residence history look like?

-  Have you owned another home, rented, lived rent free? 

-  How can you verify your past two year's residence payment history?

-  What type of property are you buying - condo, single family residence, foreclosure (rehab), multi-unit? 

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Forgive me if it sounds like I'm beating a dead horse with all of these questions, but there are so many things that an underwriter has to look at before a full approval can be granted.  Obviously, don't fill in the answers to these questions on this public forum, but keep them in mind when you're talking with your loan officer.  I'm sure that there are probably a few more that I missed, but you'll get the idea. 

Here is a First-Time Home Buyers guide that I put together for my clients and agents. 

Good luck with you new purchase. 

mm