You can buy a home with zero percent down with a 580 credit score. We will cover your down payment of 3.5%. We will verify your income but we will not collect tax returns if you are not self employed. If you are self employed we will require your last 2 years of tax returns. The maximum debt ratios are […]
Real estate professionals know more about the houses and the surrounding area. You will save time and money when you use a real estate professional. Here are the benefits when buying a home: Has the most information in one place about what is on the market, including homes listed by other professionals. You won’t waste time looking at unsuitable homes. […]
If you declared chapter 7 bankruptcy you only need to wait 2 years from the date of discharge to buy a home. It is very important to rebuild your credit with 3 secured credit cards right after your bankruptcy has been filed. When your 2 years seasoning on the bankruptcy is up you will have great credit again. Then you […]
It depends on if you had a job gap (time off between jobs) and how long the job gap was. You could have a job gap for many reasons, laid off, fired, maternity or left for a new job. If your job gap was over 6 months than you will have to wait until you have 6 months on your […]
Credit repair is helpful if there is a lot of incorrect information on your credit report. If you have hired a company to dispute all of your bad credit, it most likely will delay or stop you from getting a mortgage. Most credit repair companies will dispute everything on your credit report that is derogatory. When a trade line on […]
Yes it is true you can buy a home 1 day after your foreclosure. Your home has to have been already foreclosed, it cannot be in the process of being foreclosed. If you have a 550 credit score and 40% down you can buy a new home. You can get either a Fixed Rate or ARM and or Interest Only. […]
The fastest way to rebuild your credit score or increase it after a BK, foreclosure, deed in lieu of or a short sale is to get a credit card most likely it will have to be a secured credit card.If you happen to be a person without any credit this will work also. A credit card is considered revolving debt […]
It used to be that collections and charge-offs did not affect you getting an FHA mortgage, but with the new regulations, they can stop your approval in its tracks. Medical collections & charge-offs are still exempt to the new rules, they will not affect you except for your credit score going down. Now with the new rules any customer who […]
A lot of people ask me which loan should I get. My answer is it depends on your situation. Both FHA & conventional loans are good loans. Here are the main reasons to use either Conv. or FHA loan. FHA- If you have lower income and want to put down only 3.5%. If your credit score is below 660. […]
A VA home loan is either for a veteran, a soldier currently enlisted or a spouse of a deceased veteran. These loans allow for no down payment & no monthly mortgage insurance. These are fantastic loans if you are a veteran. A lot of veterans qualify for a VA loan and do not realize it. Most mortgage companies state you […]
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