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Home Buying in Memphis : Real Estate Advice

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  • Local Info61
  • Home Buying235
  • Home Selling36
  • Market Conditions24

Activity 284
Wed Aug 9, 2017
answered:
There are programs that do allow for low credit scores or bad credit but keep in mind it's not just credit score it's also about credit history. That being said you should contact a local lender and see where you stand sometimes things are relative, I have had individuals who tell me their credit is bad because they made a late payment 5 years ago on a Macy's card, others that think that a 640 is bad. Although there are programs that go to as low as 500 I suggest that most buyers have a 620-640 minimum before beginning the home buying process as the guidelines are usually a bit most flexible once you hit that level and rates are usually not impacted too much especially for programs for first time home buyers and/or owner occupied loans. Perhaps your credit is not as bad as you think but even if it is once you speak to a professional in your area you can know where you stand and what you need to do to prepare yourself to buy a home soon. I am NOT a realtor and currently only offer loans in Florida but I hope this helps, I suggest your discuss in more detail with your realtor. God Bless, Psalm 20:4 ... more
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Thu Aug 3, 2017
janette mendoza asked:
Hello! I want to purchase a home but I'm an independent contractor. I graduated in March 2017 and started working right away in my field but as an independent contractor. I now have…
0 votes 0 Answers Share Flag
Thu Aug 3, 2017
Shelly McAdams Brown asked:
We have rented the same house for 12 years and pay $1075 a month. We can make this payment with no problem and still pay our other bills on time. Everyday it gets a little frustrating not…
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Sun Jul 2, 2017
Amanda CW asked:
Credit score 704; First-time homebuyer; Ch7 filed in November of 2014 & discharged in March of 2015.
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Thu May 11, 2017
Carsandcars asked:
Tue Oct 4, 2016
hattie westley asked:
Sun Sep 25, 2016
Deleonnegrita answered:
is it easy to get a FHA loan especially if your on a fixed income and on SSD?
1 vote 13 answers Share Flag
Fri Jul 29, 2016
June Buerkle answered:
It depends on you available cash and your income, but there are sub-prime lenders around that will finance down to a 550 score.


The question to ask if your score is that low is how much of a penalty are you going to pay in interest Vs. Waiting to clean up your score. ... more
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Mon Jun 13, 2016
Omarisready205 asked:
Title company says I can't purchase a home because I have a judgment against me, even though mortgage company is ok with the judgment and still willing to lend the money.
0 votes 0 Answers Share Flag
Wed May 11, 2016
answered:
Hi Melissa,

What type of mortgage did you apply for?

Unfortunately lenders under strict requirements to prove that buyers/borrowers have the ability to repay a mortgage due to the Dodd Frank Act. Part of this is determining whether or not your income is consistent/dependable.

This doesn't mean that every underwriter will view every file or situation the same way so you may need to change lenders.

My underwriters are not as conservative so I maybe able to help you.

Take a look at the recommendations from some of my past clients on my Trulia profile by clicking the link below my phone number.

Please feel free to contact me for more information or help.

John Burke
Senior Mortgage Banker
Lending in ALL 50 states
Great Plains National Bank
Apply Online: https://secure.smartapp1003.com/102471/?loanofficerid=106115
(877)228-9069
NMLS# 787231
http://www.trulia.com/profile/john-burke-mortgage-broker-or-lender-austin-tx-993995/reviews
... more
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Fri Apr 22, 2016
Lisa Crawford asked:
I have lived in Memphis for the past twenty-eight years I work for Shelby County Schools for ten of those years. After being excessed from the school system three times in the last five…
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Sat Apr 16, 2016
Msmaroondagoon0713 asked:
Wed Apr 13, 2016
Leondra Early answered:
If a house is on the market as a short sale, a real estate agent can look it up for you. Short sales are done through the bank as well. If you are not working with anyone, you can contact the bank that has the home to try to get in contact with the rep that is handling the short sale. I know this post is old, and you may have gotten an answer by now, but were you still looking to buy or did you ever get an answer on the short sale? ... more
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