Financing in Huntsville>Question Details

Josh, Home Buyer in Huntsville, AL

I recently applied for a home loan (owner/builder), but I was denied because of my credit history.

Asked by Josh, Huntsville, AL Mon Jun 27, 2011

I spent a good part of last year paying everything off on my credit report to include my car. I have one car payment and that is my only monthly obligation. I have the land free and clear that I would use along with cash as a down payment. I have my house plans and several bids from materials to labor costs. How long should I wait before I try to apply again? I am married and my wife does work also.


Help the community by answering this question:


If you were denied because of credit history, then you need to find out from the lender exactly what about it that was not acceptable. It is very possible to currnelty have no outstanding debt, yet have other derogataory history that is not acceptable.

It sounds like you are applying for a construction loan. In today's market, those can be much more difficult to obtain that a regualr mortgage due to teh increaed risk.

Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Junper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at
Licensed in Alabama & Georgia

Conventional | FHA | FHA 203K Renovation (Streamline & Consultant) | HomePath® |
HomePath® Renovation | VA | USDA | GA Dream
0 votes Thank Flag Link Mon Jun 27, 2011
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