You cannot be approved with that score on a VA loan but we can help you get your score up. Score is only one factor, since you had a bankruptcy, guidelines for qualifying for a loan is that you re-establish your credit.
Call me at 302-703-0727 and we can discuss our Get Mortgage Ready Program. You should also attend the Free First Time Home Buyer Seminar this Saturday June 22nd in Newark, Delaware at the Christiana Hilton Hotel from 10 AM till Noon. You can register at http://www.DelawareHomeBuyerSeminar.com
John R. Thomas
Primary Residential Mortgage
248 E Chestnut Hill Rd
Newark, DE 19713
302-703-0727 Office... more
Expect to spend $250,000+ Check zillow and MLS listing sites that will show you comps. Find a house that suits your needs and find the option of nearby homes that recently sold. You can also use the property record search that is available online @ http://php.delawareonline.com/real/maps/baseMap.php - this will show you a map of delaware and allow you to select any plot and see what price was paid for it.... more
Hi Amy! Great job on your credit scores. There are several programs you may qualify for as a 1st time buyer. As someone who works alot with 1st time homebuyers, I can tell you it is very important that you find a lender who offers many programs especially the government funded ones. Make sure you have a realtor who works the 1st time home buyer niche because we know where to find the lenders with the best programs to meet your needs. And, yes no matter what type buyer you are you can buy down your interest rates with points being paid. It is important to know if that is your better option. Good luck and if I can be of assistance, let me know.... more
You need an attorney if you have these questions. You can have your file transferred to another attorney, they usually cooperate with each other for they are professionals and in DELAWARE we use REAL ESTATE ATTORNEYS for REAL ESTATE! Barbara Winnington... more
You can not use the Gift money as income because there is no way to prove it will continue for at least 3 years. We must verify that the income will continue. Since you are not claiming it on taxes that is another issue as well. You can use the gift money for down payment but not as income. You can use a parent as a non-occupying co-borrower on an FHA loan to help you qualify if you income is not enough.
If you would like to explore your options feel free to call me at 302-588-3665. You may also want to attend our free first time home buyer seminar this saturday October 24 2009 at 10 AM till noon and again from 1 PM till 3 PM at the Christiana Hilton Hotel in Newark, DE
Certified Mortgage Planner
302-588-3665 Cell... more