Unfortunately no, you will need to work on your credit to be able to do anything. Keep rebuilding your credit and keep using your credit cards but keep the utilization levels low at or below 30%. It just takes time for your bad credit to have less of an impact on your total score. Usually once it falls outside of 24 months it is not having a major effect on your credit if you have established good credit since.
Hope this helps.
REALTOR® & Mortgage Broker
Austin Real Estate Pros | 360 Lending Group
office: 512.669.5599 mobile: 512.633.4157
www.AustinListed.com | www.360LendingGroup.com
You need to really buckle down and start repairing your credit. Why is your score so low? Do you have recent lates? Do you have collections? Do you have any judgements? Judgements HAVE to be paid in full. If you have collections you need to start paying those off. If you have recent lates than you have to wait 6 months from that late payment before you can buy(check with the lender because some lenders have different guidelines). I have attached a blog entry that I posted awhile back. This has helped so many people increase their scores quickly.... more
Do you need the spouses income to qualify?
A 'trailing spouse' can be a good compensating factor if the debt ratios are on the high side.... But we cannot use income that just isn't there for qualifying.
I would like to learn more about the new job and the previous experience. Is this in the same line of work? Just a new job title? Is this a salaried position?
(214) 763-4629 cell/text/nights/weekends(Really!!)
Lending all across the entire Great State of Texas!!
NMLS# 335055... more
You will only know if you apply. Go to a local bank and to a loan officer who comes recommended and knows special programs. But it really depends on how good or bad your credit is and how much cash you have. Be prepared that if you can get a loan it will be higher in interest.... more
It depends on purchase amount try local lender
Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
Your homewowner's association is separate from your financing. One is not tied to the other. So to answer your question, no you can not withdraw from the Park Glen (or any other) HOA with a refinance. Hope this helps. Thanks, Cheryl Wages, Coldwell Banker Residential Brokerage, Keller, TX... more
4.75% is extremely reasonable in today's market.
My recommendation is to go with a fixed rate but if you want to roll the dice or are pretty sure you might be moving on in about 5 years or so there are some attractive Adjustable Rate Mortgage's with interest rates in the 3s.... more
H Thompson the loan origination fee is standard. The Up-Front MI is mandatory. The doc prep & Admin fee is based on the company you are dealing with. The only way to truly gauge the fees is speak with other mortgage companies in the area... more