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40324 : Real Estate Advice

  • All11
  • Local Info2
  • Home Buying5
  • Home Selling0
  • Market Conditions0

Activity 6
Wed Mar 1, 2017
Ellen Davenport asked:
Mon Nov 18, 2013
LAnne43 answered:
There are lenders that lend below 620 for FHA, I will go to 600. Below 620 will require some additional compensating factors.


More importantly - Has anyone actually gone over your credit report line by line with you and told you how to improve your score? Collections and judgements (no matter their age) greatly affect your credit score. You also need open and active tradelines with on time payments.


This will not get better over time - you need to take action to get your scores up.


I suggest working with an experienced mortgage professional who understands credit (not just a credit score) and can actually give you a plan to get your score up. Then you will not have to worry about finding a lender who will take your score, you will be able to go to anyone.


Sometimes it can be as easy as updating erroneous information on your report.
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Sun Apr 21, 2013
Ron Thomas answered:
Mon Feb 18, 2013
John Coffman answered:
First of all Congrad on keeping your score. Sorry to say welcome to the word of Real Estate Finance today thanks to our people in Washington. If you have bills & a house payment that reports to the credit agencies they can see that they are paid and paid on time. However the question in todays market is where did the money come from to pay those bills. If you are self employeed it is even more difficuilt since s/e buyers write off as much as they can, thus there net income is typically less. Where as a w-2 buyer has a pay stub and his net income is typically more. Even when the s/e buyer makes more money, gross income. Most lenders still want tax returns. A good knowledge Realtor that can put you in touch with the right loan officer can help. As a Realtor of 29 years - we have had to adjust to many new rules in Real Estate financing. Just one Realtors opinion. johncoffmanjr@coffmansrealty.com ... more
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Fri Jul 6, 2012
Judith A. Gatling answered:
Hello David,

I am very familiar with the area and would be pleased to serve you and your real estate needs. I have worked with many of the Toyota family to buy and sell their homes. Please feel free to give me a call at any time or e-mail me.

859-588-4589
judithgatling@rhr.com

Look forward to serving you in helping to find your new home.

Judith Gatling
Rector-Hayden
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