The lender you choose isn't the only factor in the process. You also need an agent that has the contacts with the lenders and that can point you in the right direction. It is easy to spin your wheels and get nowhere when you credit score is lacking. I can help you with your search for a home in an area where USDA loans are popular with no money down as well. Contact me. My phone number is 512-657-8827 and my email address is email@example.com.
I know a lender here in New Braunfels who recently helped a customer increase their credit score from a 514 to 611 in sixty days. He's definately a problem solver and if you'd like to email me at firstname.lastname@example.org, I'll forward you his contact information.
If you're open to comparing insurance, I can also send you an estimate for any properties you're interested in to see what the annual home insurance will cost.
"FHA minimum credit score is 530. New FHA policy requires a minimum credit of 530 to buy a home or refinance. In the old days FHA did not require any credit score. These changes went in to effect in 2010.To buy a home you will need a minimum credit score of 530.
Borrowers with credit score above 580 require a 3.5% down payment. The funds can be a gift from a family member and a 6% seller's concession is allowed. Often, 12 months of rental history is required for credit score below 620.
For first-time buyers, determining a maximum affordable monthly payment is key. F.H.A. mortgage insurance premiums are added into the principal, along with interest and escrowed taxes and insurance amounts. HUD estimated that the annual premium increase will add, on average, $5 a month to consumersâ€™ mortgage costs. Some low-income buyers, however, may be eligible for grants or other assistance to cover some of their closing costs".
I hope this information helps! Again, please feel free to call me if you have any questions and I would be more than happy to help you!
First, I would like to introduce myself to you. My name is Tammy Duarte, and I am a Texas Affordable Housing Specialist with Keller Williams. I help people that are purchasing their first home, or need to get their credit scores up, or find programs that will help you save money when you do buy. I live here in Canyon Lake, but I also sell homes in Fischer, Spring Branch, Blanco, New Braunfels, Selma, Shertz, Converse, Seguin, and so on. I have 2 really awesome lenders that I work with! Canyon Lake, however, is USDA qualified, and what that means is (you and the home will need to qualify), 0 down, 100% financing, and no property mortgage insurance! That could mean anywhere from 80.00 to 120.00 (or more, depending on the amount of home you are purchasing) off of your monthly payment!
Please feel free to call me at anytime,(I am working today). You may also go to my website to search on the MLS for homes @ http://www.tamraduarte.com.yourkwagent.com, and my cell# is (512)294-9583. I look forward to meeting you and your family, and helping you purchase your new home!
Tamra Duarte REALTORÂ®, TAHS
Keller Williams Realty
Canyon Lake, Texas
CONTINENTAL MORTGAGE AND INVESTMENTS
Contact: Tina Bartley
Restrictions apply. They may not be able to provide financing in your state.
Then call me and let me know when you can go forward.
Keller Williams Realty