Home Buying in Chicago>Question Details

Jessica Yi, Home Buyer in Phoenix, AZ

I need help with obtaining an fha loan!

Asked by Jessica Yi, Phoenix, AZ Thu Jan 24, 2013

I am currently working as a registered nurse and have a lot of student loan debt. I dont have the best credit score, but was told for fha that a lot of my student loans will not count if they are on time with no late payments of 60 days or more. Is this true?

I have a lot of questions regarding my situation and would love to be able to get some things cleared up. I need someone would will be able to help.

Help the community by answering this question:

Answers

17
Before you talk to lenders, you might consider a session with a HUD-approved counselor in your area. The link below will help you find a service near you. It will be free. These folks have a lot of good information. If nothing else you will learn what questions you need to ask lenders.

Best,
Ron
1 vote Thank Flag Link Thu Jan 24, 2013
Call my friend Bernard Dugandzic at Key Mortgage. He'll be very honest with you about your situation taking all information into consideration.

Bernard Dugandzic
bernard.dugandzic@keymortgageservices.com
312.592.7670
0 votes Thank Flag Link Tue Oct 29, 2013
Hi Jessica Yi


Reverse Mortgage, or Senior Reverse Mortgage, allows for a new home purchase with the use of reverse mortgage funds, this rule does not apply nationwide. Although HUD and the FHA recently passed the HECM Reverse Mortgage home purchase program, allowing you to purchase a new home with reverse mortgage proceeds, borrowers in Texas are not yet eligible. Rules in individual states may vary. Please see a specialist in your own state for more details.


http://www.reversemortgagelendersdirect.com/arizona-reverse-…
http://www.reversemortgagelendersdirect.com/reverse-mortgage-loan/
http://www.reversemortgagelendersdirect.com/how-does-a-rever…
http://www.reversemortgagelendersdirect.com/reverse-mortgage…
0 votes Thank Flag Link Tue Oct 29, 2013
Student loans must be deferred for at least 12 months in order to exclude the payments.
Please call me to discuss.
Sam Sharp
Senior VP of Mortgage Lending
Guaranteed Rate
773-290-0455
0 votes Thank Flag Link Wed Jan 30, 2013
Student loans have to be deferred 12 months past the dat of the closing. We can lend FHA with a 580 credit score or higher. Give me a call to discuss. No fee to chit chat of course.


Sean Cochran
Quality Mortgage Lending
http://www.qmlending.com
630-330-2229 cell
630-470-6830 office
0 votes Thank Flag Link Wed Jan 30, 2013
Hello Jessica,


If you are still a student and going to enroll in a class you can obtain a letter saying that the loan/debt is going to be deferred for at lease 12 months. As for creidt don't worry about it to much, I can do as low as 530. call me Direct- (630)225-7566/Cell-(773)297-9080. Call me when you can.. I would be happy to help!! E mail me at joel@neighborhoodloans.com.
0 votes Thank Flag Link Sun Jan 27, 2013
Great detailed answer, thanks!
0 votes Thank Flag Link Sat Jan 26, 2013
Jessica,

Speak with a LENDER who will be able to assist you with your credit evaluation and financing qualifications. Feel free to contact me should you need any help.
Web Reference: http://www.BJDLOANS.com
0 votes Thank Flag Link Thu Jan 24, 2013
I would try calling Tony Lupescu at 708-351-6416.
0 votes Thank Flag Link Thu Jan 24, 2013
Hi Jessica:

I am a local mortgage broker and would be happy to help you get pre-qualified for a loan.

We work with over 30 lenders to help you get the best possible financing. Our lenders will go as low as a 580 score on an FHA mortgage. SMC carries an A+ Better Business Bureau Rating and has worked in the community for over 15 years! Please call me at 630-478-2684, email, or visit my websiste to get started.

We look forward to working with you!

Best regards,

Patty Harrison
Smart Mortgage Centers
630-478-2684
patty@smarmtgs.net / http://www.smartmortgageinc.com
0 votes Thank Flag Link Thu Jan 24, 2013
Jessica,

My colleagues have given you some sound advice. I also suggest that you shop around. Many banks have different programs that they run for people with less than perfect credit. Mark Fritsch at BMO Harris Bank (mark.fritsch@harrisbank.com) has over 20 years of experience with helping people get mortgages. You may call him direct at 773.631.9390 or you may also visit my free website at http://www.idealhomesinchicagoland.com to get more information. Let me know if there is anyway that I can be of further assistance.
0 votes Thank Flag Link Thu Jan 24, 2013
Hell Jessica,

FHA has certain guidelines that will allow you to obtain a mortgage as long as your student loans are deferred. Best bet is to speak with a lender directly. Give Michael Del Preto a call, he is very knowledgeable and wont waste your time.

Michael Del Preto
Senior Mortgage Banker
office direct:312.447.3965
mdelpreto@hmcdirect.com

Sincerely,
Jorge Vega
Newman Realty Group
jorge@newmanrealtyillinois.com
0 votes Thank Flag Link Thu Jan 24, 2013
Unless your student loan are in defferment for at least 12 months they have to be counted against you. One thing you can do to lower your student loan payments is apply for an income sensitive repayment plan. That should lower your monthly obligation. Good Luck.
0 votes Thank Flag Link Thu Jan 24, 2013
Jessica.

I work with Mark Kay Laurent with Guaranteed Rate at 773-516-6859. She is amazing and she will let you know what you have to do every step of the way. Truly a great person!
0 votes Thank Flag Link Thu Jan 24, 2013
Hi Jessica,

We lend FHA loans as low as a 600 middle credit score. If those student loans are currently on time, we should be good to go. Give me a call if you would like a free no obligation quote.

Sean Cochran
Quality Mortgage Lending
http://www.qmlending.com
630-330-2229 cell
630-470-6830 office
Web Reference: http://www.qmlending.com
0 votes Thank Flag Link Thu Jan 24, 2013
I am happy to help - Pleae feel free to contact me at your convenience
Sam Sharp
Senior VP of Mortgage Lending
Guaranteed Rate
773 290 0455
0 votes Thank Flag Link Thu Jan 24, 2013
Jessica,

You can give me a call, send me an email, or go to my website to fill out an online application.

I'd be happy to help.

Thanks,

Matt Bukovy
Senior Mortgage Consultant
Wintrust Mortgage
773-416-7107
mbukovy@wintrustmortgage.com
Web Reference: http://www.mattbukovy.com
0 votes Thank Flag Link Thu Jan 24, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer