Josh Daniels, RealtorÂ®
RUSSELL CAIN REAL ESTATE
2025 N HWY 35
PORT LAVACA, TX 77979
Let me know if you need a name or two mortgage advisors. You can call me at 469-371-2899. I also know of a good realtor in Austin.
Susie Kay, RealtorÂ®
GRI, CHMS, SFR
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
Servicing your real estate need is my priority!
Joe Jarusinsky, Realtor/Master Instructor, Keller Williams Realty, Austin's #1 Real Estate Company, Call 512-261-4415
I broker with some niche lenders who can deal with credit scores as low 580. While the terms are not as good if your credit is higher the terms are not that bad.
Honestly these days FHA is less appealing if your credit is good. Conventional financing will allow you to get a loan without mortgage insurance if you can put 5% down and obtain financing with a second lien company. Also if you go the one lien route with conventional financing a huge benefit of going conventional is that you can eliminate your mortgage insurance in as little as 2 years in some cases. With FHA the mortgage insurance is a lot higher and you really are stuck with it forever... so a rate you are quoted for an FHA loan is essentially over a point higher in some cases when you take into account the monthly mortgage insurance you will be paying for the life of the loan these days.
If you would like to discuss these options so you can make an educated decision as to what is the best way for you to go with financing options or rebuilding your credit so you can buy in the future please feel free to call or email me.
Hope this helps.
Don Groff | REALTORÂ® & Mortgage Broker
Austin Real Estate Pros & 360 Lending Group
o 512.669.5599 | m 512.633.4157 | firstname.lastname@example.org
websites: http://www.AustinListed.com | http://www.360LendingGroup.com
Have your Realtor introduce you to the loan officer they trust the most. Gather all of the support documents that will be needed to apply for a loan and meet with the LO face-to-face, have them walk you through the process and options available, good luck, home this helps,
NMLS # 6395
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.
Here's how it works:
Your credit score determines your interest rates.
To get the best interest rates, which are around 4.5% right now , you need a great credit score. Something in the high 700's or better.
As your credit score goes down, the interest rate for a house goes up. This is because your credit score is used to determine how risky it is for a bank to lend you money. The lower the score, the more risk, and the higher the interest rate.
Of course if you have a credit score of 400, and $500,000 cash in the bank, you can buy a house anyway.
Every bank or lender has their own criteria - and they also look at your whole financial picture to give you a loan.
If you have more questions, I'll gladly answer them for you, just send me a note.
Best of luck out there!
600+ is easier.
(214) 763-4629 cell/text/nights/weekends(Really!!)
Lending all across the entire Great State of Texas!!
Search Dallas area MLS for FREE. No registration => http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134
Credit score is one of the important questions you'll need to know. I encourage you to engage the help of a professional that you select. Someone who can guide you from where you are today through the successful closing on your home.
Credit Score: Middle credit score from 580 (in some cases) & up. Probably need 640
Debt/income ratio: 45% or less
Down Payment: In some cases Zero most likely at least 3.5% of purchase price.
Other & Closing Costs: About 4.5% of the purchase price.
A local Realtor can assist you throughout the process. As a buyer their professional help costs you nothing. I would be happy to help you if you choose. I will send my buyers guide if you want it.
Feel free to call or email me and I'm happy to provide contact info for some wonderful local mortgage folks who are happy to help! It's a great time to buy a home in Central Texas - Best Regards, Laura 512-771-5334 email@example.com
The minimum credit score is going to depend on a number of factors besides the individual lender. It will depend on your income, debts, down payment, and the type of property you want to buy.
Generally you will need a credit score of 620 or higher to qualify for a conventional mortgage. For FHA, they are a little more forgiving as far as credit, although most lenders are going to require at least 620-640 credit. My company can do FHA mortgages with as low as a 600 credit score.
But you have to realize, just as important as the credit score itself is the information that is contributing to the score. In other words, just because you meet the minimum credit score requirement doesnt mean you will get the loan for sure. Lenders look at your overall credit profile as a predictor of whether you will make mortgage payments on time as agreed. If you've shown a disregard for credit obligations in the past then you will need to plead a strong case for yourself and demonstrate a very good RECENT credit history to combat missteps in the past.
I'd be glad to walk you through the process to see if you qualify now, and if not, what you need to do to position yourself to own a home in the near future.
Feel free to give me a call or email me.
Loan Officer -NMLS #977416
WCS Lending, LLC
Toll Free: 866.936.5363 ext. 278