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Financing in American Canyon : Real Estate Advice

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  • Home Buying10
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Activity 3
Mon Apr 1, 2013
answered:
I can do it if your middle score is 620, also I need a min loan is $50,000. It may need to be an FHA loan.
0 votes 3 answers Share Flag
Fri Oct 29, 2010
Annette Levinson answered:
Chris,
I loan modification is held against you for 3 years.
Your approval was that a commitment? I don't think you had a commitment since no underwriter would have signed that commitment. Also your FICO is too low for Fannie Mae. They require 680+.
I feel you recieved a preapproval from a mortgage originator-not worth the paper it is written on.
You do not qualify for a mortgage until 3 years has passed from your modification and the lender puts down that you have paid as agreed for 36 months you are nonmortgagable.
... more
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Thu Jul 17, 2008
Luke Allison answered:
Even though I work for a mortgage bank, I would honestly have to tell you that if they offer the loan program you are looking for and can get approved, go with the credit union over a mortgage bank. Definitely go with either over a mortgage broker - they simply don't have any selection of products right now that would be worth it. Good Luck
Luke Allison
Flagstar Bank
... more
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