Your first step is to contact a lender to determine your debt to income and your credit score. If there are any credit issues he/she will be able to identify for you. Better yet, he/she can then give you an action plan on how to remedy your credit in order to move forward.
We can do: FHA, Conventional, USDA, VA, HARP, Interest Only, Home Equity, Fixed, and Variable. Find out which product is right for you by calling Brad at (855) 415-5626.
Sr. Loan Officer
Crosscountry Mortgage Inc.
Toll Free: (855) 415-5626 ext. 5734
Let us pull your credit from all 3 bureaus and look at your middle credit score
If we can fully document what happened to you, you may be able to do something.
You do need to know that when you co-sign for someone you are signing and taking full responsibilty for that debt whether the borrower pays or not,
It is still your responsibility for that payment. We can try to document fully and show that you have paid all your other debts on time and have you write a lengthy letter of explanation.
If the debt has not gone to judgement and there does not appear to be risk of judgement going to title on the new home, you may be alright.
The first step wiould be to start off talking to a loan officer and have them pull your credit to discuss.
Feel free to contact me if you like,
Rebecca Corlew of PNC Mortgage Finanacial Services
One North Franklin, Suuite 2000, Chicago, iL 60606
I am sure you can get a loan if your income and liabilities qualifies you.
You should talk to the many fine agents responding to your question
Or your local bank, with whom you bank.
A FHA loan will lie,y be quite suitable to you.
Completing the loan application providing important documentation, such as pay stubs, W2s, bank statements, it help loan officer to determine to your qaulification .
contact your local broker or lender for more qaulification detail .
Mortgage Loan Manager
As you can see many want to help you, which is why Trulia is so great.
Whether you can get a home loan will be determined by the rest of your credit report. So any good lender will want to see that before saying yes or no.
In the meantime you should know that FHA loans will allow you to buy a home with a open charge off. Now certain other things have to be known about you and your credit report, the fact is FHA does not prohibit making you a loan on that basis alone.
We would be glad to speak with you further or you can apply online at http://www.CrossCountryIL.com
Jacqueline gave you some sound advice. Also good mortgage lenders are able to help you with the proper letter to see if it can be removed from your credit report. Also remember you must write all three credit bureaus.
Senior VP of Mortgage Lending
I have helped many clients with credit challenges purchase a home over my 17 years in the industry. However I cannot properly answer this question without speaking with you and gathering a little more information. So much depends on when the charge off occurred and what the amount of the charge off is. The other 2 debts amounting to $215 are more than likely a non issue if we are seeking an FHA loan.
I would love to chat with you and start you on the path to home ownership.
Vice President of Mortgage Lending
VP of Mortgage Lending
Peoples Home Equity
Why not give it a try. Speak with three lenders, I know of one that is in the Calumet area and is very lenient with their credit requirements. They will even guide you on fixing your credit. Please email me for their information. Now go get yourself a home! good luck.