I would start off by finding out what your credit was yourself. Then you can use that information to let prospective lenders what it is without them running it themselves.. They use a Fico score which is different than a credit score but it would give them an idea where you are with your credit.You can go to http://www.AnnualCreditReport.com . This is free & you can get it once a year. It won't hurt your credit either. When anyone else pulls your credit, it could hurt your score.
Hope this helps,
Real Estate One
Karen Paytas, GRI, CMS
Real Living Kee Realty
I agree with Haig. Different lenders have different programs. There are different types of loans and rates. FHA, Conventional,203k, Homepath, homepath renovation to name a few. You are going to want to start process with someone who is going to walk this through with you step by step. What if you didn't qualify today? How long until you can? What can you do to get there? What are the differences between loans.?How much can you afford and live comfortably? What will I need to close? What about property taxes?
It should be more than a yes or no qualification . It should be an education.
Hope this helps,
There are quite a few lenders out there so I would talk to at least two and compare some of the items that they can do for you. Some may give you a free appraisal, some may give you one free financing if you want to refinance, etc.
Write down a few questions that you can ask a potential lender and call a few up and ask them about rates, experience, and other things that you may be curious about. You may not click with every rep so see who you feel comfortable with . How available is the rep to answer your questions and are they responsive. Do they know the area, are they familar with home values in the area, and can they suggest agents that know the area well to help you (in case you don't have one)
I know a few good lenders in the Sterling Heights area if you need one. I lived in Stering Heights for 10 years and I am now just north of Sterling Heights in Shelby, so I know the area and the lenders in the area very well.
Let me know if you need assistance in either and I can email you a couple of lenders who are great.
My contact information is below.