Confused (FHA loan)
First off, a little back story. I've been working on my credit in order to apply for an FHA loan. My middle score is currently 600 and the only blemishes I have are (4) late payments I garnered in late...
View ArticleWhere to go next
My husband and I have been working on our credit for the past year or so. We have finally gotten everything out of collections that was sitting there! With taxes comming back i'm not sure what to do...
View ArticleChances of being approved, plus a delimna
1. Mortgage Credit Scores: EQ 638, TU 739, EX 713 (Regular Scores: EQ 691, TU 728, EX 717)2. Credit Negatives: Type: Student loan, Status: Closed/Paid (consolidated), DOFD: ~June 2010This happened...
View ArticleSwitched Lenders
It has been one heck of a last few hours. Back at the end of January, I had signed a contract on a Spec home being built and got a great deal. The next day I started shopping and one lender at that...
View ArticleBefore I purchase the 3B credit reports...
Hello - I love these forums! Lots of useful information, but I am still confused by credits scores used for mortgages. I have our Experian Fico8 scores just pulled this weekend and hubs and I have...
View ArticleSomeone help me understand what closing costs should be for a 380k home
Back in 2005 ( the last house I bought and flipped) I bought a home in Las Vegas for 401,000 and the closing costs were about 2,900 through Country Wide Home loans. I'm ready to finally buy a home...
View ArticleCan I settle defaulted school loans and still qualify for an FHA loan?
Hey all, My hubby has defaulted school loans and we are looking to resolve them. The original amount was 12,000 and now it's with a collection agency through the DOE that has it at 16,000 with...
View ArticleFeeling excited about going to speak with a LO Friday
Earlier, I posted a message inquiring about my changes of securing a mortgage based on my credit profile. While the info in these boards is awesome, I am excited about seeing what my LO has to say,...
View Article680 Credit Score FHA RATE
Hello, my middle mortgage credit score is 680. My lender quoted me at 4.25 % for a FHA on $220,000 with 3.5% down. This seems high, what should I expect in this scenario?Thanks.
View ArticleBank of America
Bank of America Corp. is rolling out a new-mortgage product that would allow borrowers to make down payments of as little as 3%, in a move that would represent an end run around a government agency...
View ArticleQuestion about interest rates on 3% and 5% Conventional loan.
Sorry folks, I'm new to this part of the forum so please let me know if I'm not giving enough information. Although, I am qualified for FHA the breakdown adds up better with a conventional loan. The...
View ArticleDoes it make sense to refinance my home for 30yrs vs. 15yrs if I plan to sell...
I'm in a situation right now where I can refinance my home to get a lower interest rate and remove PMI. My current loan is a 30yr fixed @ 4.2%, and my monthly mortgage is $1624/mo. My new re-fi loan...
View ArticleDo I qualify for FHA loan?
hey, I'm a first time home buyer looking to purchase a home before summer. I will be starting a new job in August and would like to purchase before my employment changes. I am open to any and all...
View ArticleWhich FICO are mortgage scores?
I ordered the 29.99 package and downloaded the app. In the app, when I click on scores, it shows fico 8 scores. When I slide over, it says "commonly used in mortgage lending". These scores are: Equifax...
View ArticleConventional vs FHA
I know FHA has a 3.5% min downpayment but how much is required for downpayment on conventional loans? Other than the difference in downpayment requirements are there any other factors that make one...
View ArticleAnyone dealt with Kondaur?
Got a preapproval yesterday for 275K on an FHA with 3.5% down and a 3.75% rate. Middle score was 663 (poor utilization management, could probably get it up a few more points but probably not to 680...
View ArticleDown Payment Assistance/ USDA Income limts
Hi All! There are so many programs out there to help first time home buyers, which is great!! Unfortunately it seems the income ceiling for the programs is about $77,000 for Ohio and my husband exceeds...
View ArticleMortgage qualifying, scoring, and lots of questions
We decided this month to try to purchase a single family home in SC later this year and hoping to close in Jan coming. Our lease will be up In Feb. So we have about 7-8 months before we seek pre...
View ArticleApply for CC a bad idea?
I'm looking to improve my scores to at least a 640 mid. I'm about 20 pts shy at the moment. I plan to meet the LO in 6 months. I have one credit card, a Cap1 secured with $750 CL. I've asked for a CLI,...
View ArticleIs it possible?
I just pulled my 3B report and I have a middle mortgage score of 568, is there anyway that I could get a home loan with a score this low. I'm eligable fore the VA loan however everywhere I go I keep...
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