Home Buying in 45373>Question Details

Ross Brady, Other/Just Looking in Fernley, NV

My family and I are moving to the Troy/Lockington area. Is it possible to get a loan with way less than?

Asked by Ross Brady, Fernley, NV Tue Jun 10, 2008

perfect credit. Also, how does one qualify for an OHFA loan?

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Hello Ross, We have seen some ease in the mortgage end and yes you can still get a loan, depending on what is driving your credit score down. If you haven't owned a home in three years you probably qualify for an OHFA loan, plus a few other options are available to you. We also have a local bank offering $5000 Down Payment Grants. Feel free to call me at 937-667-4375.
0 votes Thank Flag Link Wed Apr 20, 2011
Try and ask your loan officer about the USDA loans that are available. Are you or have you been in the Military? If so ask the loan officer about VA loans.
0 votes Thank Flag Link Tue Apr 5, 2011
Yes. Contact LaDonna Ferguson at BoA. 937-260-0299
0 votes Thank Flag Link Tue Apr 6, 2010
Ross,

The definition of "less than perfect" is the question. All requirements (even OHFA) have become more stringent. You will typically want at least a 620 as a minimum, be at least 2 years from a Bankruptcy Discharge and 3 years out of foreclosure, as well as prepared to settle any collections.

If you are close, there are ways to "Rapid Rescore" to get a few points added. This is someting I could analyze for you if you have a credit report in front of you.

I am a Mortage Banker who strictly deals with Ohio and I am OHFA approved, as well as other various FHA loans. Feel free to contact me by email or phone.

Franz Bauer
American Midwest Mortgage Corp.
fbauer@ammcorp.net
440-320-5959
0 votes Thank Flag Link Mon Feb 8, 2010
Ross,

The definition of "less than perfect" is the question. All requirements (even OHFA) have become more stringent. You will typically want at least a 620 as a minimum, be at least 2 years from a Bankruptcy Discharge and 3 years out of foreclosure, as well as prepared to settle any collections.

If you are close, there are ways to "Rapid Rescore" to get a few points added. This is someting I could analyze for you if you have a credit report in front of you.

I am a Mortage Banker who strictly deals with Ohio and I am OHFA approved, as well as other various FHA loans. Feel free to contact me by email or phone.

Franz Bauer
American Midwest Mortgage Corp.
fbauer@ammcorp.net
440-320-5959
0 votes Thank Flag Link Mon Feb 8, 2010
Yes, there is. You do not have to have perfect credit to purchase a home. With regard to OHFA, here is their website, http://www.ohiohome.org/. You can obtain valuable information from this website. OHFA is currently offering down payment assistance to first time homebuyers. However, there are income qualifications, you must be above a specific credit score, and your debt to income ratio must meet their criteria. If you use OHFA, keep in mind that their interest rates are a little higher as well. Their rates are still good, however. You really need to contact a reputable lender with your credit information. They would be able to give you specific advise to your situation. I have lived in Troy, Ohio for over 28 years and I am very familiar with the area. If you would like a referral to a reputable lender, I would be happy to assist you.
0 votes Thank Flag Link Thu Feb 4, 2010
I work that area and I can help you with both the loan and the home search - simply contact me via my website and let me know what I can do to help. Or, call me and I will have my loan officer call you to schedule a pre-approval meeting and see if your financing can be done. (937) 974-5176 - John Youker
Web Reference: http://www.SWOhioRealty.com
0 votes Thank Flag Link Wed Jun 11, 2008
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