Home Buying in Dallas>Question Details

Alexandra, Renter in Irving, TX

Are there any Texas mortgage lenders for a credit score applicant of 614, self employed (currently working abroad) with 10% down payment ready?

Asked by Alexandra, Irving, TX Sun Jan 19, 2014

Hi all,
I am currently living and working abroad in England, however I am a USA citizen- I've lived abroad 10 years and am self employed here. I want to buy a home just to own in the Dallas Ft Worth area (it would not be my main residence, as I will still be working abroad), my credit score is 614 according to Experian, etc. and I have a 10% down payment ready to go. Are there any lenders out there who will give me a mortgage if my own proof of income is bank statements from a foreign bank? I understand interest rate will be high, but I am not concerned about that as I am aware it's a "high risk applicant."
Any help would be appreciated! I want to own something for the future, as I can easily pay it off in 7-10 years based on a $190K purchase price (with a high interest rate incorporated, and taxes, etc).

Thanks for your assistance!

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Answers

7
You may be able to do something. It is important to know your three scores because lenders in most cases use the middle score. So if your other scores are lower the score used may be lower than 614 or the opposite could be true.

We also need to look at your entire credit profile as well. Even with your credit in the low 600 range the whosale interest rates I could offer would be in the low to middle 5% range in most cases depending on your actual credit score.

Hope this helps. Please feel free to email me if you would like to discuss further. I am a Texas mortgage broker and only lend in the state of Texas.

Hope this helps.

_____________________________________________________
Don Groff | REALTOR® & Mortgage Broker
Austin Real Estate Pros & 360 Lending Group
o 512.669.5599 | m 512.633.4157 | listings@dongroff.com
websites: http://www.AustinListed.com | http://www.360LendingGroup.com
0 votes Thank Flag Link Fri Jan 24, 2014
Hi Alexandra,

We are based in Gladewater and have many programs available for people in your situation. To how and what you would qualify require a much more in depth Q & A and some supporting documentation. I do this to make sure that I am not making promises that I can't keep!

Your situation may be doable, but one has to be carefull in understanding the entire picture to make sure.

I'm available to help you at your convenience if you wish.

I can do a full underwriting approval ahead of time if need be and I also offer credit score improvement programs for free while we work on your mortgage. Everyone likes to raise their score!

If you like my answer, consider clicking on a “Thumbs Up” or “Best Answer”

Regards,

Robert L. Hanson
Gladewater National Bank
First Time Homebuyer Specialist

Direct: 240-752-7549 Cell: 301-651-7822
Email: robertlh66@verizon.net
NMLS# 695929

Rate quote or live chat with me at the link below:

http://www.loansfromrob.com/quote/
0 votes Thank Flag Link Mon Jan 20, 2014
Hello, I work with several lenders who may be able to assist you, please contact me anytime for further assistance.
0 votes Thank Flag Link Mon Jan 20, 2014
Hi Alexandra,

My husband and I work as a team together, I am American and he is French....we work with those who are from here, living abroad or here along with Expats moving here where their credit score can be of some concern.
We are able to assist our clients with an "out of the box" type of way to purchace a property and stay cash liquid if they quantify...you could be a possible candidate.
Give me a call, so I can get more information from you and from their I'll know better the direction pertaining to your critetia.
Look forward to speaking soon!
Sandra and Olivier
0 votes Thank Flag Link Mon Jan 20, 2014
I have a great lender that should be able to help you out. Call Matt Konlande - Home Town Lenders - 817-881-6125

Regards,

Chris Hutchinson, REALTOR
The Michael Group
0 votes Thank Flag Link Mon Jan 20, 2014
Tammy Simpson, Realtor Keller Williams Realty the #1 real estate company in North America. I will be glad to assist you. I know several lenders and my agency is in partnership with several companies to bring my clients the best possible service. I'm also Founder/CEO of a credit radiation company that rapidly repairs clients credit then get them approved for a home loan in less than two months. Call me anytime at 972.363.3760
0 votes Thank Flag Link Sun Jan 19, 2014
Give me a call or text me at 469-371-2899 and I will connect you with a lender that I usually work with or even a couple lenders. Currently I'm helping someone who is doing the opposite of you!

Take care,
Susie Kay, Realtor®
GRI, CHMS, SFR
Residential/Commercial/Investment
English-Indonesian-Hokkien
------------------------------------------------------------------
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
469-371-2899
susie_k@att.net

http://www.dfwdreamhomes.net

Servicing your real estate need is my priority!
0 votes Thank Flag Link Sun Jan 19, 2014
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