Credit scores have to be significantly higher than they used to, but again I have to tell you, its my opinions that a 70% no doc loan with someone who has a 720 or higher credit score I believe is a good loan. ... And that is exactly what we have here, if you go to a lender and he says, Well you are going to have to put down 20% you know he is not an FHA lender. So run out of there and call Michael at Velocity Financial and get yourself pre qualified. ...
Yes it is possible, not too many options though, because of that 561, but an FHA lender might do it. I have done a couple loans recently with people who's score were below 500. March 12, 2010 7:13 am | #1. Vicster. We were actually able to buy a home with no ... It is better to leave them alone and pay them off if required with your loan approval. I'm licensed in 50 states and would be more than happy to help you. March 12, 2010 10:05 am | #5. Kenzie99. I would try FHA. ...
... the sellers existing mortgage remaining in place." This phrase means that at closing, the property is titled in the buyer's name, but the loan is still in the seller's name. Therefore, you are buying the property 'subject to' the selle [?] .... Think Right Now for Windows software makes every PC minute a self-help minute. Read about my review and experience with this little piece of innovative software and see how it fares. Mar 11, Quote of the Day 930 March 11, 2010 ...
A friend of mine is a loan officer and she told me a letter of employment from her new job may suffice and show the income they need to get the paperwork pushed through.
Call your loan officer and have him/her check with the underwriter about the steps you can take to make this happen.
Don't be so quick to jump to another mortgage company YET – but let them know you have someone in the wings if they don't want to help.