My husband has limited credit (590 credit score) But nothing bad on his credit. Does anyone know which mortgage company is most likely to approve us for a loan as first time homebuyers and 100% financing?
5 Comment(s)
sorry u need to keep renting seriously.
read ‘house buying for dummies’
understand todays market =s u being subprime high rates .
keep renting and save ur selfs 10,000s$.
Depending on where you live and what the housing market is like you may or may not be eligible for a decent home loan. Given the problems with the current loan industry and real estate market, and that the rates will come down further, my suggestion is to wait until things settle. This will also allow you and your husband time to pay down on your current obligations and allow you to have a higher Fico score.
You may be approved for FHA loan with 97% financing. Assuming that it is buyers market, you may get lucky and seller’s contribution will cover needed 3%. Keep in mind, it is important: you better look for honest and reliable mortgage specialist than the company. Conditions of your loan depend mostly on him. His job is to find a company and arrange the loan to suit your needs
sorry u need to keep renting seriously.
read ‘house buying for dummies’
understand todays market =s u being subprime high rates .
keep renting and save ur selfs 10,000s$.
robert w | Feb 22, 2010 | Reply
Depending on where you live and what the housing market is like you may or may not be eligible for a decent home loan. Given the problems with the current loan industry and real estate market, and that the rates will come down further, my suggestion is to wait until things settle. This will also allow you and your husband time to pay down on your current obligations and allow you to have a higher Fico score.
Steveo | Feb 24, 2010 | Reply
impossible, unless you show them a down payment of 50%
niquey | Feb 28, 2010 | Reply
You may be approved for FHA loan with 97% financing. Assuming that it is buyers market, you may get lucky and seller’s contribution will cover needed 3%. Keep in mind, it is important: you better look for honest and reliable mortgage specialist than the company. Conditions of your loan depend mostly on him. His job is to find a company and arrange the loan to suit your needs
roginad | Mar 1, 2010 | Reply
Try
Good luck,
Jon
John the helper | Mar 2, 2010 | Reply