Home Buying in 94044>Question Details

Anjanette Ma…, Home Buyer in San Francisco, CA

i am trying to secure financing to purchase a home or condo. my husband's middle score is 641 and mine is 536. any chance?

Asked by Anjanette Mazey, San Francisco, CA Fri Aug 17, 2012

we both have excellent rental history (8 years in our current place and always pay on time), employment history (8 years for me and 7 years for my husband), and have a combined income of just under $100k annually. my score is low, primarily due to a few issues that came up in 2009 and 2010. my husband had a medical issue causing him to reduce his work hours, which in turn dropped his salary $10k over 2 years. he had surgery in 2010 and had serious complications. i took over 2 months off work (paid) trying to keep him alive and everything else, except rent and auto payment, took a back seat. most things were 30, 60, or 90 days late during that time and several were closed. once things cleared up with his health, i began paying the debts again and got back on track. i was also helping my mother financially at that time. i have good reasons for the problems, but will a bank listen?

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Yes, it can all be resolved with a flash score process. I can help you figure out what documents you need to complete this and process them with the credit agencies. I would need to discuss it with you by phone or in person.

Also banks only look at the last 2 years tax return for income qualification. Let me know if you need further help. Cheers, Cynthia 650 219-4770
0 votes Thank Flag Link Thu Jan 9, 2014
There are a lot of lenders out there that will give you a loan with a low FICO Score but the lower the score the higher the interest rate.
When you buy a home today your basically buying a Mortgage because you will probably never pay it off. So get the best and lowest rate that you can the first time.
Repair your Credit First.
If you don't you will be stuck with that high interest rate loan.
There are a lot of companies that offer Credit Repair or Restoration and do so so work. Don't waste your money you can do that your self just dispute all the derogatory items and wait and see what falls off.
We have a one time fee for our service and in 30 to 45 days you will have squeaky clean Credit Guaranteed!!!
If you would like more information contact me at:
Harold Lear
0 votes Thank Flag Link Thu Jan 9, 2014
Hi Anjanette, I am a Realtor and a loan officer. There are may ways to improve your credit with a flash score. This only takes a few days to a week, once you provide documentation. Without that, if your income supports it, you may be eligible for an FHA loan. Whish only requires a 3.5% down payment.

I provide free planning sessions for buyers that are trying to understand what they can do to improve their chances to secure home financing. I can provide you help to reach your goal of owning a home.

Contact me anytime, Cynthia Mils 650 219-4770
0 votes Thank Flag Link Thu Jan 9, 2014
Hi anjanette

you may apply for fha loan with 10% down program but Condo needs to be approved with hud. we love to listen to you but we want to make sure you don't get in trouble borrowing this money. those medical and other collection account need to be satisfied otherwise it become lien against property .

good luck

Omar Khamisa
Web Reference: http://msjmortgage.com
0 votes Thank Flag Link Fri Jan 3, 2014
Mel: Good morning. Thanks for the follow up. The appraisal has been ordered and I know that they are behind. I will see what I can do to get a read on the timing. Have a great Thursday. Thank you Mel, jim
Sent from my BlackBerry® wireless handheld
From: Melvin Phillips <melephillips@gmail.com>
Date: Thu, 16 Aug 2012 08:36:41 -0700
To: jimmcclenahan@juno.com<jimmcclenahan@juno.com>
Subject: Re: Andrea Ruth / Pre-approval letter

Good morning Jim,

Can you give me an up-date on the Andrea Ruth Loan and how it's coming along?  Has the appraisal been ordered and if so when is it expected to take place and when will you have it.

The purchase contract is on 135 Stanley Pacifica.

On Tue, Jul 31, 2012 at 6:14 AM, jimmcclenahan@juno.com <jimmcclenahan@juno.com> wrote:
Mel : Good morning. Here you go, please let me know if I can help in any other way.
Have a great Tuesday.

Call James and tell him Mel Phillips refered you!

James S. McClenahan
Eagle Home Loans, Inc. 
1190 Park Avenue
San Jose, Ca. 95126
DRE Lic. # 01516411
NMLS # 234440

(408) 289-8050 - Office
(408) 289-8057 - Fax
(408) 391-1903 -
0 votes Thank Flag Link Fri Aug 17, 2012
The 641 score is good enough for a loan, can your husband qualify just on his income? You would have to raise your score of 536 up to at least 620. There are often many small things that can be done quickly boost your score. Feel free to call or email me and I can analyze your credit for you and get your on the right track.
0 votes Thank Flag Link Fri Aug 17, 2012
also, just to mention, since that time everything has been paid on time. nothing is currently in collections and any closed accounts have either been paid off or are in good standing paid on time. i always pay more than the minimum.
in addition, we have $85k cash to put toward a down payment.
0 votes Thank Flag Link Fri Aug 17, 2012
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