UPDATE: In order not to trigger the "DUE ON SALE CLAUSE" our lender has given us permission to put the spouse (with lower credit score) on Title but not on the Loan at closing. Check with your lender as every institution has its rules and regs,... more
Hello Rebecca, yes he could if he has it or if he has a minimum 580 fico score he may qualify for as low as .5% half percent down payment program.
If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve and you can be emailed listings to fit your search criteria from my mls.
You will need to be pre-approved if you decide to buy and to be able to meet an agent to view and submit offers on any homes of your choice. Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs.
You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down or as low as .5% half percent down payment program up to 417k. You may consider 3% down conventional from a minimum 620 fico score or even 5% down conventional with NO Mortgage insurance (Lender paid MI) up to 417k.
It only takes a few dozen questions to qualify, go over your options and email you listings to study and compare. Here are some links to study as well as web reference links to many loan program pages offered...
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA/CalVet Loan Specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
22+ Years Experience
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
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Hi there, if you have receipts and proof you have paying at least 12 month on the mortgage then most of the times you could assume the mortgage since you can prove it, so you might wanna reach out to the bank, and you need to find out if there is a SALE date, if not then you could negotiate with the bank if you have power of attorney from the owner,, bets of luck.... more