Chances are you do have a FICO score. The three credit reporting agencies are: 1.) Experian, 2.) Equifax, and 3.)Trans Union. Fair Isaacs is only a scoring system from the data on your 3 reports.
I would suggest you contact a mortgage broker directly so he can discuss all 3 reports, your mid, FICO scores, etc. More importantly, he can tell you the real facts, and make suggestions as to what actions you should take to be able to be pre-approved for a certain amount (a range of house prices from low to high?).
With the amount of money you have saved for a down payment, you should have several options depending on the price range of the homes you are looking for. For an FHA mortgage, you only need 3.5% Down Payment. Since you have a good amount of savings, it may be more beneficial to go with a conventional mortgage. With a larger down payment, you are borrowing less of the total purchase amount and may be able to get a better rate. The larger the Down Payment, the better the rate and terms should be.
Please feel free to call Ed Dubinsky directly at Absolute Home Mortgage at 215-808-5353. You can also e-mail him at email@example.com He will be glad to review your options and put you on a game plan to get the mortgage pre-approval you desire.
If you would like some further assistance in finding that perfect home and negotiating a good deal for you, please feel free to call me anytime at (267) 254-7994. Have a great weekend.
All the best,
REALTOR, Negotiation Specialist
Cell/Text: (267) 254-7994
Let me know if you want a referral on a local lender.
2200 Walnut St.
Phila, Pa 19103
You may need a private lender to create a portfolio file.
Feel free to call for a confidential talk.
All the Best. John Curci RE/MAX 215-757-2889
Its an important question.You should get answer from any reliable reverse mortgage company. I have a reverse mortgage which name is reverse mortgage lenders direct. They are very helpful. You can get right answer from their by search
While loan programs such as the FHA allows for you to provide a Lender with an "alternate" credit profile---reference letters from utilities, cellphone providers, furniture stores and such---the reality of today's market is that Lenders want a credit score and a credit history containing at least 2 accounts open and active for twelve months or longer.
In short, you'll need to build a credit profile and obtain a credit score so you can buy a home in the future.
I have found that CONSUMER ACTION is an excellent resource for objective advice on all things credit related. You'll find free and sincere advice on everything from settling collection accounts to rebuilding credit to building credit from scratch on their website. http://consumer-action.org/
You can also find great information about building a credit history and obtaining a credit score at http://www.MyFICO.com
The best way to buy a home is to have a decent credit history combined with sufficient Income and Assets for a home purchase.
The best way to have a decent credit history is to settle negative outstanding obligations and pay all your bills on time for at least two years.
Before the 2008 Mtg Melt Down Yes.... Now.... Natta...Some banks want your first born....
May I suggest get away from B of A... They Are very toxic with County Wides trash.
For a confidential Conversation please feel free to call us at 215-757-2889
All the Best John + Sheri Curci RE/MAX Properties.