Best of Luck!
Sr. Mortgage Banker
NMLS # 659743
If you are planning to buy a home, then one of the first things that you look at is getting a loan. For first-time home buyers, this may be a bit overwhelming. You can hear about all kinds of terms that you don't understand and one of those involves the lender that you work with. You may discover that you can obtain financing through either a lender or a mortgage broker and wonder which one is a better choice for you. Here you can find some information about both parties to help you decide the best option for your situation.
You should consult with a mortgage consultant and see what you can do to increase your scores.
Best of Luck to You!!
Kawain Payne, Realtor
And never - Never - shall the mention of Architecture or Architects come up in the conversation.
Because the page is for Realtors.
The page is for Brokers.
The page is not for Architects or Architecture enthusiasts.
If you can ride the wave and pay the fees for Brokers and Realtors JUST LIKE ALWAYS then this is the page for you.
Lenders will pull 3 FICO scores, and use the middle score as your FICO. A mid-FICO of 599 won't get you the best interest rate out there, but you may still qualify for a home loan.
Give me a call, I'll set you up with a local lender here in the High Desert. He'll pre-qualify you for a home loan, or at least work with you to get to where you want to be.
It is unlikely you could be approved for mortgage financing with that credit score at this time.
Beware of any mortgage professionals promising you an approval with such a low score. Wait on buying a home. I recommend you take the time to resolve your credit issues.
First, settle any outstanding debt. If you owe money on collection accounts, charge-offs and/or judgments, make payment arrangements and get these accounts paid promptly.
Next, begin rebuilding your credit. If you have current accounts with good payment histories, or even some previous late-payment-blemishes, make sure you continue to pay those accounts on time. If you do not have any existing credit accounts then you'll need to establish several in order to create a viable credit history.
I have found that CONSUMER ACTION is an excellent resource for objective advice on all things credit related. You'll find free and sincere advice on everything from settling collection accounts to rebuilding credit to building credit from scratch on their website.
Beware of anyone offering to "repair" your credit! The Federal Trade Commission issued a stern warning last year that such offers are scams. Find more from the FTC HERE.
The best way to buy a home is to have a decent credit history combined with sufficient Income and Assets for a home purchase.
The best way to have a decent credit history is to settle negative outstanding obligations and pay all your bills on time for at least two years.
By itself, your FICO isn't too bad to qualify for a home. A lender will look at the full picture when approving you for a home loan.
It is an excellent time to buy.
Contact a lender right away. Together, you can put together a plan that will get you on your way to home ownership.
Don't hesitate to call with any questions.
Bo Goulet, cdpe
Certified Distressed Property Expert
Shear Realty-Spring Valley Lake
12170 Spring Valley Pkwy.
Victorville, CA 92395
Mobile: (760) 713-6137
Have 27 yearsâ€™ experience in helping clients get into their dream home with the perfect financing
For their needs. I take advantage of all programs available and work to make the process as
Painless as possible.
Much of my success is due to the Realtor team of Jorge/Beck (760)912-2328) that I work with. In todayâ€™s market
You must have a solid realtor team on your side.
Please call or email me and take advantage of our experience.
Thank you for your question