D man asked:


One m& #39; a prêt with traditional housing my pointing of crédit nécessaires for être of 680 said to make or more. Même with 5% and a crédit of 650 I n& #39; do not have été approuvé because the firm takers not to approve SME me. Quelqu& #39; one knows oà ¹ I can find d&amp more; #39; information on the requirements of SME?

Carlos

glock17 asked:


I seek à to buy my première house. Oà ¹ can I go to California to obtain a government (or all) the house of prêt à low level d& #39; intérêt? (less than 1000 $ every month) My pointing of crédit is d& #39; approximately 590 ….. J& #39; need d& #39; helps! Thank you.

Ramon

Pat B asked:


IMY brotherwas pré-approuvés for a homeloan. Its pointing of crédit is of 680. It has an excellent work. Its debt/returned is large. It n& #39; does not have bankruptcies. When it has trouvé a house à to buy, all d& #39; a blow, it needs d& #39; a co-signatory, is 20 percent. It n& #39; forever d&amp need; #39; a Co signatory for nothing. He has été propriétaire during 25 years. It n& #39; forever manqué d& #39; a prêt. Is it necessary to go elsewhere? Is this étrange for you?

Scott

ramfam0331 asked:


I am hopeing for a request for prêt à residence in 12 months and am not s? R if I go bénéficier. Is it possible? The fact is that j& #39; payé all my debts and I have n& #39; do not have the debt, and I am while espérant that in 12 months if it thus remains to increase my score and I will put 20% downwards. You think that you m& #39; to help?

Rick

Judy asked:


I seek à to buy a house, but not any à fact research or prête, but I was to go to seek l& #39; approval d& #39; a prêt to see at least how much I can pay. If I pré-approuvés aujourd& #39; today, how long do I have réellement on the prêt? I do not want être pré-approuvés aujourd& #39; today, qu& #39; it expires, then d& #39; to obtain pré-approuvé again later and that my pointing crédit to drop.

Diane

are we there yet asked:


my house is worth about $550k.. My credit score is 559 right now, due to my excessive credit card and student loan debt.. nothing has ever been late, it’s just that i have excessive amounts of these debts.. i make about $2,600 dollars a month, and i’m wondering if i will be able to get a home loan for about $100k so that i can pay everything off.. (my house is 100% paid off).. will i have a problem getting this home equity loan?? should i even both applying or should i just wait until i pay down my credit cards more?? advice anyone??

Megan

twosis asked:


My credit score is around 530 and My husbands is around 630. I have charge offs from 2005 (that will be on my credit report until 2012)
We both have good jobs and bring home around 7000 together each month. We also have around 30,000 saved up for a down payment.
Since our income is decent, and we have a down payment (more than 10%) is it likely we will be able to find a home loan for a new home?

Micheal

ronald m asked:


ok. i dont need no gay answeres or smart *ss answeres here. i know when my bankruptcy is 2 years old my credit score will be close if not in the 700’s and i will be able to get a fha loan with 3% down and very reasonable interest rate. i am looking for finance now with a median credit score of 624….can anyone point me in the right direction?

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jamiet95608 asked:


I’m thinking of buying my first home next year in sacramento. I’m hoping to see a significant drop from current prices. I make the median income (~$54,000). In 1 year, I’ll have ~$35,000 in savings and ~$5,000 in my 401k. I’m 23 years old and have been working at my job for 1 year now. I currently have a credit score of 780. My only debt is $8,000 in student loan at 4.5% interest. I’m willing to make monthly payments of ~$2,200. I might move in a few years. What kind of a loan can I get? Which programs are best for my situation?

Thank you for reading.

David

Alan Lim asked:


 

It is unfortunate that many people applying for a new home mortgage see the loan only in terms of whether the payment on the home is less than the amount of disposable income for housing earmarked in the family budget. In truth, there are many other significant factors that should be considered before determining if owning a new home is the right answer.  Further, the size and location of the home are factors that impact the price.  Considering such factors will help you make the proper decision about the amount of house that is appropriate for your family situation.

 

Income

 

The income level in your household used to be the determining factor of the amount of money you could borrow on a new home mortgage. Because the interest rate was fixed at a certain percentage, the lender had to be certain that the income was sufficient and likely to remain so during the life of the loan. Some assumptions about the income included that it was likely to increase over time, especially in a young borrower.   The amount of the loan was often tied to the annual income, such as the price of the house could not be more than 2.5 times the household annual income. Today, this factor is given less importance than the amount and kind of credit history or credit score that you have attained.

 

Debt

 

Determining the amount of house you can afford for your new home mortgage should take into consideration two different kinds of debt.  The first is that debt you already owe.  If you have numerous credit cards some or most of them with available balances, you can more than likely be approved for a home loan that is larger than what you can honestly afford.  Since your FICO score is based on credit rather than on income, this can be a very seductive danger.  You will end up with a home with large payments and too many credit cards.  The second type of debt is that added when you achieve the mortgage.  Depending upon the type of mortgage, you may be totally at the mercy of rapidly increasing mortgage payments that are not covered by your income.

 

Stability

 

The stability needed to obtain the best size of house for you is related both to your stability as evidenced by employment history, credit history and other more intangible factors.  In addition, when looking at a new home mortgage, you will want to consider the stability of the community in which you live.  Is it a one-employer city or is the economy strong and vibrant?

 

Housing Market

 

Determining how much house you can afford on a new home mortgage depends on the general housing market in your community or neighborhood. If the housing market is strong and vibrant in the area, you can probably allow for a somewhat larger mortgage on a new home than otherwise.  This statement assumes that you plan to live in the area for a period of at least 3 years.

 



Larry