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Hello. I have a 13,000 dollar credit card debt, that I would like to combine in a mortgage. Can it be done?

Wed Apr 9 2008, 09:56 - Temple Terrace - Financing - 3 answers
 
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Steve
Just Looking
in Tampa
Steve, Just Looking in Tampa in Tampa
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Mark Zabilow… was FIRST TO ANSWER
Have you explored looking into going back to school (while continuing to work) and getting a student loan? It may be a way to get the money to pay off the credit card balance and have a lower interest rate and part of it deferred. Also 401(k)s will allow you to borrow money from your account.

Wed Apr 23 2008, 09:37
Web Reference: http://almakee.mfr.mlxchange.com/?Page=286840
 
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Steve,
what are you thoughts and ideas behing wanting to add credit card debt into a home purchase? what price range are you looking at?

you need 3-4 open active ontime tradelines (creditors - good paying accounts) over the last 12 months. They can be non-traditional trades like cancelled rent checks, car insurance, cell phone payments, utilitiy bills etc, to qualify for FHA. they also keep hiking their minimum credit score requirements...... Lower scores (minimum 500) are required to have a manual underwrite.

Fri Apr 11 2008, 20:44
Web Reference: http://www.katrinamadewell.com
 
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FIRST ANSWER
Steve, Take your downpayment of your home and pay off the $13k. Get qualified for an FHA Loan (3% down) which will allow up to 6% back toward closing costs. We can also ask for a contribution to the down payment through a program called Nehmiah. We need to know more about credit ratings and what size loan you can qualify for....
Mark@Homes4UinTampa.com

Wed Apr 9 2008, 10:45
Web Reference: http://www.Homes4UinTampa.com
 
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