Financing in 33991>Question Details

Whatnow?, Home Buyer in Cape Coral, FL

Do I qualify? I am not a homeowner, but my husband does own a rental property he bought 10 years ago.

Asked by Whatnow?, Cape Coral, FL Wed Jul 15, 2009

Currently we live in a rented house (owned by family member) who wants to let the house go, so my first option is to purchase a home. My credit is fair 612, 625, and I think a 595 so we are not talking great here. However, I have no lates in the past 2 years and do not have any major debts. My husband's credit its not so great, but he makes 2.5x my salary. I know there are many programs out there now, i am just seeking your opions if there is a chance I could get approved for a mortgage or if I should start looking for a rental?

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Whatnow?

It looks like you need a Rapid Rescore and a pre-approval letter and your all set. I can adjust your credit score up to a 100 points in 72 hours. Dont let your score hold you back.

Give me a cal and I will rescore you for free.

Thanks

Ryan
954-394-9005
0 votes Thank Flag Link Thu Jul 16, 2009
What Now?
My firm is a direct lender, and we can finance as low as a 580 score. If your husband's score is below that, we can still help as we offer free credit repair. Please call me anytime at the numbers below to discuss your options in greater detail.

regards,
Frank Olguin
Mortgage Banker
AmericaHomeKey Inc.
500 W. Cypress Creek Rd, Suite 330
Fort Lauderdale, FL. 33309
Folguin@americahomekey.com
Hablo Espanol
office 954-771-7715 x104
cell 561-386-9731
pfax 954-379-4469
Florida Mortgage Lender
No. ML0700325
0 votes Thank Flag Link Thu Jul 16, 2009
Hey Whatnow?,

Like some of the other responses suggest, you need to speak to a mortgage professional that at least offers a possibility to do this loan. We still have lenders that will allow a score down to 530. Most lenders require a 620, but you are very close to that already. Now, on the other hand if your husbands credit is well below that but he is the bread winner, for lack of better expressions, then we may have a problem. Have you pulled your own credit recently? If you would like me to evaluate your credit for you, we generally can advise you of how to increase your score dramatically within a short period of time to put you in a better position to finance a home.

Joshua Lerette - The Tampa Bay Mortgage Pro
Innovative Mortgage Services, Inc.
727-488-7355
josh@thetbmortgagepro.com
0 votes Thank Flag Link Wed Jul 15, 2009
If you haven't owned a primary residence in the last 3 years, you might qualify for the First Time Homebuyers $8,000 Tax Credit that expires November 30th. This is the best time to buy in Cape Coral with the prices down. I have 3 bedroom, 2 bath homes with owner financing at 4.5% fixed interest rate with a 7 year balloon and only 5% down. These homes have never been lived in and are in Cape Coral and Lehigh Acres. There are a couple of qualifying criteria and one of them is a credit score of only 575.

Call me at 239-210-1356 or email me at d_craddock@yahoo.com for further information and a list of available homes.

Thanks
Dan Craddock
Realtor
Zivkovic & Associates RE Services, LLC
http://www.dancraddock.com
Web Reference: http://www.dancraddock.com
0 votes Thank Flag Link Wed Jul 15, 2009
You should talk to a mortgage broker and try to get that score up a little bit more, it is not that far off.

I would have to look at both incomes and credit to give you a solid answer, your income could be enough to qualify, have you applied?

If I can be of any assistance please let me know.

David Chamberlain
727-239-2188
http://www.floridadreamloans.com
0 votes Thank Flag Link Wed Jul 15, 2009
My advice is to speak to a couple of reputable mortgage brokers. You may want to ask around to see if anyone you know has had a good transaction with someone near you. Find out which one you are most comfortable with and get them to determine what you qualify for. A knowledgable mortgage professional should be able to give you several different options and some can even advise you about improving your credit scores.
0 votes Thank Flag Link Wed Jul 15, 2009
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