| ||||
| 6 Quick Messages | ||||
 gmakerley |
it looks very much like you have seen an opportunity to make a few dollars, matt, and that you've grabbed it with all ten fingers. your posts recently are merely mimicking what has been said in the prior posts - they are not at all helpful and you generally just repeat what someone else said, albeit in slightly different manner.this is not how this forum is set up to operate. posting meaninglessly is not at all useful, either. if you have something new to add...some advice that isn't just an agreement with another's post...something useful...a real, original opinion...that's fine. but please don't contine to parrot what i, or anyone else, has already said. there are enough smart folk on this site that will pick up on what you're doing and attempt to put a stop to it....a word to the wise... | |||
gmakerley |
yes, i am available. you can email me at george.akerley@prospectmtg.com, or call at 860-286-0444, whichever you prefer. i can review your credit report (hoping that we get to the 580 we need). what i'd need for information is your work history (current and previous jobs), earnings, current assets (bank accounts, etc.), plus your personal data such as SSAN, birthdate, address, etc. feel free to run your full scenario by me. | |||
 eric1 |
Hey, it is great that you are in the forum asking questions. However be careful offering advice to others. You and I both know you are not a mortgage professional. Your answers have not been entirely accurate. Remember, people are here for real answers. | |||
gmakerley |
actually i already answered your fha qualifying question, but to reiterate - 580 is their minimum credit score requirement; but ratios are vitally important. it looks like yours are quite higher than would be desirable.as for the money earned here - yes, indeed, it is available to you. go to the "announcements" forum and you'll find the discussion about that. you'll want to request your funds from the administrator of the site, Sam. | |||
gmakerley |
my best first guess is that it will not be sufficient. ideally, your debt-to-income ratio for the mortgage (the monthly payment divided by your income) should not exceed 35% or so. in trying to obtain a mortgage of $150,000, you're going to find that the monthly payments will be well in excess of that 35%, i think. | |||
gmakerley |
580 is now the minimum score for an fha loan, so if you're there or higher, that's good. having $50K for down payment might be quite beneficial, as it will allow you to reduce the debt you'd have to undertake to make the purchase. if you've got reserves in addition to that $50K, so much the better. honestly, at this point, i believe the key is your score. if you're wrong by 1 point and it's only 579, that's a problem. if you're wrong and it's above 580, go full speed ahead. once you've solved the credit score issue, the biggest stumbling block (potentially) is how much other debt you might have - the less, the better.your chances? okay, i would think. | |||
