Compare Mortgage Quotes

Guest

i have the income and have good credit history for a year and a half now but my score hasnt improved any suggestions on what i should do im sick of renting an apartment for 900 a month?

gmakerley · Posted: Mon Apr 27, 2009 2:06 pm Post subject:

sit down with a friendly lender and see what it is that's keeping your scores from improving. you ought to be able to do something with your accounts that will help. it's not that long a process if you know what to do.

Guest

We are currently trying to purchase a home...we need to close in about 70 days. The home is worth $300,000, but we are purchasing for $130,000. We have a couple medical collections, but only have open credit for a vehicle. no other open credit lines. Our score less than 620. We had one late payment 6 months ago in 2008. We do have some money to put down...about 5%. We are not having luck finding a lender.....Any suggestions?

savior70 · Posted: Wed Apr 29, 2009 6:55 am Post subject:

Hi

To qualify for an FHA loan, you need to have a credit score of at least 620. So, getting an FHA insured loan will not be possible for you. Moreover, there are some negative items on your credit like collections, late payments etc. I think you should first try and improve your credit so you can get loan offers with good rates and terms.

Guest

I work for one of the largest FHA lender in the country. We are:

- Ginnie Mae Approved.
- FHA Refinance down to 500 FICO
- FHA Purchase down to 530 FICO
- Originating government loans over 20 years.
- License in over 45 states.
- We also have some programs which do not require FICO score, debt to income ratio not being a factor.

If anyone is interested, do not hesitate to contact me Everyone is welcome!!

gmakerley · Posted: Fri May 01, 2009 2:40 pm Post subject:

mr refi fha i removed your email address in accordance with community guidelines. you are welcome to join us a lender in the community. we've got a good sampling from around the country. please read the guidelines.

eric1 · Posted: Fri May 01, 2009 4:24 pm Post subject:

Thanks George !

Guest

scores are 665, 638, 633 no late payments in 5 yrs 7 months.. i have a credit card limit for 1500 over limit 1750 i think its hurting my score if I pay down how fast will it change my score. Can i get fha loan with these score with credit over limit. Thanks

gmakerley · Posted: Wed Sep 16, 2009 10:12 am Post subject:

mandy, i don't believe you'll have any difficulty with a lender concerning your scores. you are right about the over-limit situation harming your scores, and you will definitely benefit by reducing that balance as quickly as you are able. i don't have the ability to predict the difference it will make by bringing your balance down, but i will tell you that your ideal situation would be to have your balance at $450, which is 30% of your credit limit.

your payment history is the biggest factor in how high your scores are at current. keep it up, you're doing fine, and simply get that balance down as soon as you are able.

Guest

thanks for getting back to me... My credit report is already showing the overlimit credit card on my credit report and my scores are like I said 665, 638, 633 so my question is since it is already showing the overlimit with these current scores will the scores change anymore. I hoping that these current scores are already the result of the overlimit credit card and that it wont cause it to go down anymore. Due to medical bills these past month I had to put a 1,000 dollars on a 3,000 max credit card. not yet being reported on my report its currently showing a 0 card balance. We are trying to sell our home to purchace a new home this why I'm so concerned. but finally getting our tax money so I can pay these balances down. Just dont wont to get our score down below 620 because of the credit cards. We will be doing a Fha mortage just dont want to have any promblems. Sorry so long... thanks again Mandy

gmakerley · Posted: Mon Sep 21, 2009 8:58 am Post subject:

what you do about the overlimit situation will be key. if you are able to make a reasonably sized payment and reduce that balance, your scores should not be affected much. the new $1000 you noted will probably hit the bureaus shortly, and that may make the scores dip, but your payment record, which it would seem to me to be pretty good, will probably override the new debt. fortunately, that $1000 is only a third of the limit. keep it low, and repay as much as you can as rapidly as you can to ensure that your scores don't dip to 620 or below.

Guest

does anyone know how accurate the online True Credit scores are? True credit scores are 665, 638, 633 worried lenders scores will be alot diffrent. Do lenders still do rapid rescoring? I was hoping if needed I could pay down high limit card and than do rapid rescoring.... And one more does anyone know if fha loans are still doing only 620 and above I know it used to be lower but with current housing market did not know if it was still 620 or above? Thanks so much

Niicss · Posted: Fri Sep 25, 2009 2:58 am Post subject:

In my opinion, it would be better if you could go to "annualcreditreport.com" and check your credit report for free. Thus, you would come to know what your scores are like. You would require a middle score of at least 620 to qualify for a FHA loan and 740 to qualify for a conventional loan.

gmakerley · Posted: Fri Nov 13, 2009 11:39 am Post subject:

Lovely Rita, meter maid - *poof*

Kasper_5277 · Joined: 14 Nov 2009 Posts: 24 0.00 Dollars($)

Yeah you are able for fha loan.

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

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours
Previous 1, 2, 3 Next
Page 2 of 3

Compare Mortgage Quotes

Is it possible to get FHA loan with score less than 580?