Compare Mortgage Quotes

lpschower · Joined: 29 Nov 2007 Posts: 1 1.65 Dollars($)

Hello I live in tampa, florida. I have a fico score of 583 and my wife of 580. First home purchase. Do you think we can get financed.

banker0679 · Posted: Thu Nov 29, 2007 10:15 am Post subject:

yes and no.

do you have 2.25% for a down payment?
do you have NO credit lates in the last 12months?
can you go full documentation?
do you have NO BK 13 in last 12months or NO BK 7 in the last 24months?

if the answer is YES ..then you can do FHA.

probably get a rate of 6.5% and lower for 30yr fixed

michelle · Posted: Thu Nov 29, 2007 2:54 pm Post subject:

Welcome to the forum lpschower.

When qualifying for a loan, there are many other factors in addition to your credit score as Banker noted above.

If you think you can safely say yes to most of his questions, I would suggest you contact a mortgage professional for a consultant. Even if you say no to some of his questions, it still might be beneficial for you to talk with a loan officer. They should be able to tell you rather quickly if you qualify and if not, what steps you need to take to be able to qualify soon.

Good luck to you. I hope you are able to buy a home soon.

jasonredding · Posted: Thu Nov 29, 2007 3:18 pm Post subject:

If you have enough money to put down you can almost always get financed.

The first place as banker mentioned is definetly FHA. They will be your best bet after that a good mortgage professional should be able to find you financing somewhere. Like michelle said there is lot more then just your FICO that goes into a mortagge decision.

what can you put down?
what is tyour credit history like?
what type of property are you buying?
what type and how much in assets do you have?

etc.

Find yourself a good mortgage professional and consult with them. If you have anymore question please feel free to ask or contact me.

Guest

Good After noon lpschower,
I am an FHA Lender in Florida and with your scores being a first time homebuyer FHA is the perfect program for you. The government recently passed a bill so that you only have to put down 1.5% to purchase your home.

And there are many grant programs out there for down payment assistance. Let me know if I can be of any further help I am always available to chat!

Bradley D. Gertz
Office: 561-746-1484
Cell: 772-607-1925
Fax: 561-746-7383
email:"brad@accesslendinginc.com"

[Email address deactivated as per forum rules. Thanks.]

neil · Joined: 20 Sep 2008 Posts: 1 1.32 Dollars($)

how much money do yoyu have to put down? ARE YOU A FULL DOCUMENTED INCOME BORROWER? WE HAVE PROGRAMS OTHER THAN FHA THAT MAY HELP YOU? EMAIL-ME--"neiL@flmtgcon.com" or call 1-866-627-2860 NEIL SHERRY FLORIDA MORTGAGE CONSULTANTS

[Link deactivated as per forum rules. Thanks]

Guest

I live in michigan and am looking to puchase a home. I qualify for a va loan. I have a 600 credit score and good pay history for the last 2 years. However I went through a divorce in 03-04 and lost everything house, car, and some utilities. I do have unpaid collections from back then. Does anyone have any ideas. My new credit is an auto thru ford motor credit and 2 credit cards none of the have any late payments. I have 5000 I could put down.

Guest

Can my husband qualify if his scores are 551 567 627 with a down payment of about 10000 and he does have a few credit issues old though and minimal credit to show, he does have 2 auto loan that are in good standing on his and my credit, but we would like to do the loan in his name only, is it possible? Also his income is about 90000 yearly

jenkin7 · Posted: Wed Apr 08, 2009 2:47 am Post subject:

Hi Hailey,

It is true that getting a loan with less than perfect credit is difficult these days. Even if you get, you will be required to make a considerable amount of down payment and the interest rate will also be higher than normal. You can seek a no-obligation free consultation with the community lenders as they are best people to tell you if you can qualify for a loan with the credit and income you have, under the current market situation.

Guest

Yes i have bad credit less than 600 however i do have va what options do i have

jameshogg · Posted: Tue Oct 04, 2011 11:03 pm Post subject:

Hi reginald,

With a credit score of less than 600, it will be difficult for you to qualify for a mortgage. In order to get a VA mortgage, you should have a minimum credit score of 600-620.

Thanks

Property State:
Property Type:
Credit Rating:

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

All times are GMT - 7 Hours

Page 1 of 1

Compare Mortgage Quotes

Bad Credit Morgage Loan possible?