FHA loans pay less attention to credit scores, than traditional lending. But the first thing you should do is speak to a lender. They can run your credit and find out what "not so good" truly means, and how that will impact you.
If your credit rating is truly bad, they may be able to recommend what areas need improvement and how you might go about that.
Good luck, and much luck to the newlyweds!!
I commend you fro reaching out to the Trulia community where I am confident you will continuew to get GREAT feedback and I congratulate you on your recnt marriage. :) For starters, I highly recommend you contact a mortgage professional and I like to refer " Cindy Hall" who is a LOCAL mortgage consultant. Cindy is simply awesome and has been in the business for countless years. She is the only broker I know that actually attends the actual closing with her customers ( I do too) just in case something goes wrong at the closing table so she is there to intervene and facilitate swift resolution. She is superb in customer service, welcomes weekend and after hours calls and is GREAT with banking & client relations in the industry which enables her to be very competitive with rates and fees. Many of my firat time home buyers & finance clients utilize her services b/c of her years of experience, knowledge and expertise and they always provide good feedback regarding her competitive rates and superior customer service. Cindy can discuss your personal situation and prequalification guidlelines at no obligation. She wil review "the do's and the don'ts" and the basic ABC's of getting you prepared for your goals. In addition, she can discuss First Time Home buying programs, USDA 100% finance options, as well as FHA guidelines which requires a 3.5% down payment of the purchase price. I would suggest you call Cindy as soon as possible so you can get started on your endeavor and I assure you she will offer sound advice and good tips to get your credit where it needs to be in order to buy your first house together as a "married" couple.
Commercial & Residential Loan Consultant
Mortgage Solutions of Central Florida, Inc.
6200 Metrowest Blvd, Suite 203
Orlando, FL 32835
407-294-4707 | 800-482-4707 (office)
Also, take a look at this 40 page informative link that will undoubtedly provide you good resouces and is easy reading that should help your pursuit.
When your in the position to purchase, please keep my contact information and give me a call. . I would welcome the opportunity to assist you and your wife with becoming happy homeowners. BTW, are you confident that your credit is "not that good"??? Sometimes buyers are surprised to learn that they are in fact "well qualified", especially when they have two incomes to consider. Call Cindy and she will verify either way. If you have ANY additional questions, please do not hesitate to contact me directly. I would be happy to help all I can. :)
GOOD LUCK!!!! HAVE A GREAT DAY!!!!!
Thank you kindly,
Kim Setzer, REALTORÂ®
CENTURY 21 ELITE HOME FINDERS
May you always have love to share, health to spare & friends that care.
YOUR REFERRALS ARE GREATLY APPRECIATED & THE BEST COMPLIMENT!
If you have no credit cards get a small one and put a small balance and carry it for a few months and pay it off. just do some standard acts that help build credit.
If things can't be fixed quickly then an owner finance maybe a good solution. there are ways to skin the cat that aren't the conventional means but jsut as effective.
btw. don't pull your credit frequently. don't do things that they look at it... buy cars, furniture, cell phones and so forth... these will adversely effect your score.
It is possible to purchase your first home, you have lots of affordable options, and lots of financing options. Sometimes in making the numbers work you might need to cut back on necessities and sacrifice in order to realize your dream goals. Sit down, write them down as a family and begin making strides to help acheive your goals. Seeing them posted throughout your house everywhere will help keep your perspectives in order and be a gentle reminder when saving might not be fun, but will certainly guide you in making positive strides to achieve your dream home! Good luck.
I have a great referral for you that offers free initial consultations and will outline a 12 month program to help eliminate credit issues and correct them from your credit reports if they re-appear after paid off. Please contact me at 407-844-9369 to discuss further. Best of luck in your new life and home search!
Quiza puedan calificar para un prestamo con un puntaje de crÃ©dito de 580 con ciertas restricciones, con muchisimo gusto yo le puedo
proporcionar la informaciÃ³n del
Mortgage broker con quien yo trabajo, serÃ¡ un honor poderles ayudar a su
esposa y a usted a encontrar y
comprar su primera casa, me puede
contactar al (407) 797-5139 yo trabajo
para Keller Williams @ waterford lakes, tambiÃ©n me puede encontrar en
el website kellerwilliams.com
en el zip code 32828
SOY AGENTE BILINGÃœE
I would be glad to prequalify you for a home loan. I've worked with many first time home buyers so I know about the programs specifically geared towards you. I can review your credit, assets, and create a plan of action to get you on the path to homeownership.
I am teaching a class on Saturday at the Center for Independent Living in College Park for first time homebuyers. I suggest you and your wife try to attend a first time home buyer class to learn the in's and out's of the home buying process. I will discuss what I call, Mortgage 101 - I will review the 3 c's - Credit, Capacity and Collateral - the three factors banks consider when determining a borrower's mortgage application.
Feel free to contact me to discuss how I can help you finance your first home!
JACQUELINE L. CLARKE
Sr. Loan Officer
Freedom Mortgage Corp.
Florida Mortgage Coach
â€œWe Coach You Through the Mortgage Processâ€
What I would suggest is that you contact a local mortgage broker who is willing to work with you to restore your credit. You may have to contact a couple to find the help you need. They should be able to tell you areas that you can improve upon to restore your credit. They will also be able to explain what other financial requirements you will need to meet besides credit score to successfully apply for a mortgage.