Posted on: 23rd Jun, 2009 03:53 pm
I have a median credit score of 648 my husband has 683. My husband has been on soc sec disability for over 2 years, but my job is recent....4 months...but same field for past 4 or so years. We want to buy a mobile on its own land for $79,000. We do not wish to hurt our scores more by having inquiries. Our combined income is over $43,000.
Cwww2002
Welcoem to the forum
Your score is pretty good to go for a FHA loan. FHA requires you to show 2 years of steady income and if you can show that you shoudl nto have any difficulty in gettign the loan
Down payment required will be 3.5% with MIP
Good luck and feel free to ask
Welcoem to the forum
Your score is pretty good to go for a FHA loan. FHA requires you to show 2 years of steady income and if you can show that you shoudl nto have any difficulty in gettign the loan
Down payment required will be 3.5% with MIP
Good luck and feel free to ask
Cwww2002
FHA loan will be available to you if you show steady income (decrease in income will hamper the approval process) for atleast 2 yrs.
your credit scores are good enough for the FHA loan approval...
keep in touch.....
FHA loan will be available to you if you show steady income (decrease in income will hamper the approval process) for atleast 2 yrs.
your credit scores are good enough for the FHA loan approval...
keep in touch.....
Hi Cwww,
Both you and your husband have credit scores good enough to qualify for an FHA loan. You also need to show a steady employment history of 2 year to get the loan. Your recent job is only 4 months old, but you have had a continuous employment history of 4 years or so. I think if you can write an explanation letter to the underwriter stating the reason for the small gap in your employment history, you can qualify for the loan.
You can seek a no-obligation free mortgage consultation with the lenders of this community. They will assess your financial situation, your credit scores etc and will let you know if you can qualify for an FHA loan. In case, you do not qualify for an FHA loan, they will be able to tell you the reasons for your disqualification and suggest you ways to get approved for the loan.
Both you and your husband have credit scores good enough to qualify for an FHA loan. You also need to show a steady employment history of 2 year to get the loan. Your recent job is only 4 months old, but you have had a continuous employment history of 4 years or so. I think if you can write an explanation letter to the underwriter stating the reason for the small gap in your employment history, you can qualify for the loan.
You can seek a no-obligation free mortgage consultation with the lenders of this community. They will assess your financial situation, your credit scores etc and will let you know if you can qualify for an FHA loan. In case, you do not qualify for an FHA loan, they will be able to tell you the reasons for your disqualification and suggest you ways to get approved for the loan.
Does FHA disqualify homeowners that do family daycare in their residence??
Hi,
I don't think FHA disqualifies homeowners who do family day care at their residence. I've not heard of any such FHA guidelines. However, it is better to check it with a local FHA mortgage lender regarding this.
I don't think FHA disqualifies homeowners who do family day care at their residence. I've not heard of any such FHA guidelines. However, it is better to check it with a local FHA mortgage lender regarding this.
Both my husband and myself have credit scores of just over 600 (me, 640-him,610). we have had good credit goung for about 4 months. We have both been employed by our respective eployers for over 9 years and have an annual combined income of just over $99,000 yrly. Can we be approved?
Hi Hollie,
In order to get a FHA loan, you should have a credit score of at least 620. Given your situation, you may be able to qualify for a FHA loan. You should contact the local FHA lenders and start applying for a loan. They will check your financial situation and let you know whether or not you can qualify for the FHA loan.
Thanks
In order to get a FHA loan, you should have a credit score of at least 620. Given your situation, you may be able to qualify for a FHA loan. You should contact the local FHA lenders and start applying for a loan. They will check your financial situation and let you know whether or not you can qualify for the FHA loan.
Thanks