Hello; Wish I could be more definite but for me the answer is 'maybe'. If the 40K is a 50% downpayment there are companies called 'Hard Money' lenders who might make the loan. The days of 580 borrowers getting a mortgage are still behind us but yesterday I heard from a lender who can get as low as a 620 score so the market is beginning to loosen up. Getting a finer point on the credit score might help you. A credit repair company might be of service too. But if it was me, I would connect with a sharp mortgage broker who is willing to help you work on your scores and provide you a success strategy. Then get the right Realtor who can set you up with a search so you can familiarize yourself with the market while you are working on the rest. Can't help you myself, sorry. I have a Mortgage Loan Originator license but it is for Florida where I also have a real estate broker license. Good luck in NC!... more
It sounds like you would qualify but I would need more information to be sure. Now for some great news. The home you're interested in is eligible for the no money down USDA mortgage.
One of the best things about this mortgage is the monthly mortgage insurance is substantially less than an FHA or conventional mortgage and that's with no money down.
Here's an example: An FHA mortgage of $140,000 is going to have a monthly mortgage insurance payment of $145.83 but on a USDA mortgage it's only going to add $46.66 to your monthly payment so it will save you $99.17 per month.
The other nice thing is you can actually roll your closing costs into the loan as long as the appraised value supports it.
Please feel free to contact me for more information or help. You can also find info on my USDA Mortgage website by clicking the link below.
Senior Mortgage Banker
Peoples Bank & Trust
Have you spoken with a lender yet to determine if you qualify? Wells Fargo can occasionally do an FHA with a 600 credit score. I am happy to get you in contact with one of their lenders if you are looking to purchase this home. Just send me a message here through Trulia and I will get you started with the process of determining if you can purchase right now.... more
This is going to depend on the type of loan that you get and if the seller is willing to help with closing costs. A typically FHA downpayment is 3.5% of the sales price which sounds feasible for you from what you mentioned in another post as long as the seller assists with your closing costs. The best thing to do is speak with a lender to determine exactly what you need to do. I am happy to put you in touch with one.... more
This home was listed for $279,900 and changed to pending status on 3/4/11. There are two other homes that are active listings in the neighborhood. Let me know if I can provide you with other details about this community.... more
If the address is 30 Jamestown Ct., Zebulon, NC, then the listing agent is listed as Rochelle Moon Realty.
Phone:(919)496-0444. I found this on a Yahoo site.
Trulia also has the home listed but states that the listing was removed. It could be expired or sold. If you call Rochelle she can probably help you.
Hope that helps,
I can help you find something here. I can set up a search for you that will email you with homes that match your criteria. If you are still interested, please email me at firstname.lastname@example.org or try my website below!... more