"borrower has 1 credit card rated 9 months and another only rated 5 months but has 3 credit scores over 640."
Should not be an issue, FHA has no minimum credit line requirement. I have lenders with no overlays.
"Or a borrower that has a couple credit cards from 5 years ago that have been closed for 4 years and no new credit but a FICO over 580."
Zero active trade lines would be a problem. At least 1 would be necessary. If they had no credit score it would be easier than having the 580.
"Borrowers that can't prove rental history that have no alternative credit."
Rental history is not generally required. Why do they need alternative credit? Is this the same borrower with the 580 and no trade lines or a different borrower?
Please clarify.... more
Try Robert Kurugian at Academy Mortgage, I think they recently brought back some manufactured home loan packages. I'm not sure about the non owner occupied part, but can't hurt to ask... 661-717-3394
I need more information to answer your question. Rather than post the address of the property on the internet for all to see, give me a call and we can discuss. Dee Oliver - Miramar Internationl - 661-747-7763.... more
MAJESTIC PROPERTIES EARN INTERNATIONAL DESIGNATION FOR LUXURY HOME MARKETING EXPERTISE Bakersfield, Ca 12-17-2012-- Bart & Tracey Tipton with Majestic Properties of Miramar International Marketplace
The only lender that I can think of would be a hard money lender, but even then, you need not show the lender your W2, only the fact that you can come up with the funds or a proof of funds for the down payment. The majority of lenders (FHA or conventional)want to see and verify your tax returns, because if you are making 200k and are showing only making 20k, then how are you to pay for a new loan? It is a doubled edged sword. Consider talking to a professional and write off less for the next two years or go with the bigger down payment.
Jacob Marquez... more
There is more information needed to give you an accurate value. Please call me so I can gather those answers from you and provide you with a realistic number.
1.25% is a common "quesstimate"; however, your effective property tax bill actually consists of three separate levy categories: General Tax Levy, Voter Approved Indebtedness and Direct/Special Assessments.
See: "Estimating Property Taxes in CA" http://tinyurl.com/bjjledz for a thorough review.
In these hyper-multimedia times, nothing catches the eye better than a video. It’s not even that hard as the steps in getting a California real estate license at all. With all the tools now available,
Housing market is unstable, mortgage rates in record low, foreclosure rates on major level drops, getting real estate training toughens, and a lot more. There is so much to know in the housing market that
Are you currently thinking on how to improve your home value? Do you know where to start as well as know the factors that affect and determine property value with better & longer appreciation? Guess
If you get a lot of business from your real estate website, you may want to consider adding a blog to engage and connect with potential clients and share your expertise. Blogging has given more exposure
Here are the wait times to get a home loan after short sale:
1. VA - 2 yrs
2. Conventional 20% down 3 yrs
3. FHA 3 yrs
In the rare case of an extenuating circumstance, sometimes you can get a FHA or VA loan immediately. The extenuating circumstance has to be something major where you were force to sell because of a major illness that can be fully documented or a job transfer. A loss of job, divorce, etc...will generally not work for the extenuating circumstance.
Make sure you check when the deed transferred out of your name, that is the date to begin counting. Contact me if you would like me to look it up.... more