Do you have a capital one credit card?
I was able to boost my score by 20 points within 3 months just by accepting the card, using it once, and then paying off the entire balance.
This strategy, however, might work against you if your average credit history (between all your trade lines) is less than 2 years or if you've applied more than 3 times for credit within the last 12 months. Hard credit inquires will knock your score down a bit, but those effects are temporary and usually moderate over time.
For localized assistance and support, this looks like your best bet:
Good Luck and hope it all works out for you.... more
I assume you're using an FHA loan..There was a regulation that limited the guaranty on these loans to buyers if the seller owned the home less than 90 days. It was generically called the "FHA anti-flipping rule." Since FHA backs these loans, the lenders have to follow their rules.
That being said, if this is the case, then your lender has not kept up with the guidelines. They may have other reasons for the denial, but if it's merely to comply with the 90 day possession guideline of the FHA, then you need to question further. In order to stabilize the housing market, the FHA temporarily waived this requirement back in 2010. The exemption from following the guidelines was set to expire in December 2011 which would have meant that the 90 day rule was re-instated.
But, the government extended the exemption again until December 2012 which means that the 90 day rule does not have to be followed. I would question your Lender or ask another Lender. Here is the link for the government extension of the exemption...
Good Luck!... more
Mkt rate for an LC depends on the buyers qualifications and the sellers motivatin for selling. Basically LC is on a case by case basis. As a side note LC's can be a dangerous arrangement for the buyer and for the seller. Suggest you discuss the pros's and con's with a Realtor experienced with this type of transaction. If you wish to delve deeper call us 937-435-2267 x163 for a one hour free consultaiton. www.YourRealtorForLife.net... more
The details need to be discussed with a lender. In todays times you will normally need to have recieved your first check from the new employeer and also have an employment contract. Exceptions are possibe, so discuss the details with a lender.... more
I work with many who are PML or aka HML contact my office happy consult with you.
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Speak to your lender. This is very common with a lot of the first-time home buyers and young couples that I work with. Often times they with have a parent with good credit and income cosign the loan for them to help them qualify. A cosigner is not necessarily responsible for any of the monthly mortgage payment - unless that is an arrangement you have worked out - but if you default on your loan the cosigner will be held accountable. Good luck!... more