If he has below a 620 credit score, you will be required to put 10% down. If you have not checked his score recently, how do you know it is below 580.
Also, if you have only run your credit through Transunion, you cannot be certain of the 665 because we use the mid-score of the 3.
My recommendation is to apply with a local direct lender, have them run your credit and your BF's credit and see where you are at. Don't go to a local bank, they will most likely not work with you. A direct lender will be more apt to help counsel you on how to get your scores up and will approve you with a lower score then most banks. I would love to help you but I'm not licensed in NY. Good luck to you... more
Thinking about selling is the first part of the equation - where are they looking to move? Do the numbers make sense, where they can get something larger/newer/upgraded or otherwise more to their taste than the home they are in?
Perhaps focus more on the end rather than the means.... more
The pictures online need to be very good, not "ok" , not kinda good....really really good. Its worth every effort to get good pics because 80% of the buyers are looking online first. Tip: take pics mid morning or mid to late afternoon...the natural light coming in will make the pics clearer. Another Tip: An easy way to keep the windows from blasting out your pics is to use HDR technology. Its free and easy so even if you are not techy there is no excuse to not use it. Its on all the new smart phones so find the option when using your phone camera and USE IT.... more
Jeff we are seeing many homes that are on the market for a long time. Some homes because of the repairs that are needed you have to pay cash for the home. So someone that is coming into a home like this is going to want to know that the home will be worth the repair cost and have the money to work on the home. At one time FHA had a program where you could get a loan for repairs but you had to use contractors to do the work. It had to been done through a place like Home Depot. The lenders want to make sure that when it was done it was done right. You could not do the work on the home. I am not sure if there is still program like is any more. I know about it before the big shake down on the banks. You might want to talk with a loan officer and see if they still have that type of program available. They would appraise the home with the improvements that needed to be done. But the home could not have basement issues or roof issues more of an interior issue. Nothing major.... more