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Financing in Brandon : Real Estate Advice

  • All180
  • Local Info28
  • Home Buying48
  • Home Selling3
  • Market Conditions3

Activity 7
Thu May 5, 2016
Hi Silviapaulo,

What's really strange about this is even if the underwriter isn't comfortable with this being considered your primary residence because of the commute, FHA does allow non-occupying co-borrowers.

The only reason I can think of that would warrant taking you off is if your current housing payment plus the new mortgage payment out weighed the additional income you bring to the table.

You really need to get a second opinion.
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Fri Apr 19, 2013
Lisa Reeves answered:
UAMC usually is strict about their DTI, However they have approved above 50% DTI on occasion. Sometimes they will have buyers payoff debt but the real answer is to see how the UW determines and how much they determine your income to be. You can always choose to use an outside lender who may not run as conservative? Or put a little more money down using a gift? ... more
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Wed Apr 10, 2013
Cant' say positively without having ALL the details, but based on the information given you should be in good shape. Your credit is really good for FHA and the debt to income ratios are in line as well.

Bear in mind though that not only do you need to qualify for the loan, the property must meet FHA minimum property requirements. It needs to be in pretty good shape with no health, safety, or structural issues and if it's a condo it needs to be FHA approved.

If you'd to go into more detail and get a better idea on approval, please feel free to shoot me an email along with your contact information.
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Wed Nov 10, 2010
Charlene Cobelo answered:
Hey Colleyann.

I am an agent here in Brandon/Tampa area. Your best bet is to contact a few lenders directly. I have a couple lenders I can recommend but, please be very careful. What you think isn't strong may be perfectly acceptable for a loan as a first time home buyer under certain programs.

Please feel free to contact me with any questions you may have or if you would like any assistance in your home search.

Charlene Cobelo
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Thu Oct 14, 2010
Liane Jamason answered:
I have sold 2 homes this year to buyers who got USDA loans. Several areas qualify for USDA including Plant City, Riverview and parts of Apollo Beach and Ruskin. Generally you need at least a 620 credit score but if you are close to that, the lender may be able to assist you in helping clear up any credit issues to raise the score. Call me today if you'd like help purchasing a USDA home! ... more
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Sat Feb 6, 2010
At only 600.00 a month, your mother is not in a financial position to take on the responsibilties of home ownership. Apart from the monthly mortgage note itself, she will have the additional responsibilities of utilities, home owners insurance, and possible maintenance incidentals that could pop up at any given month or time. If 600.00 is all she has, she will definitely need a co-borrower. Either that or look into some type of subsidize housing. ... more
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Thu Jun 25, 2009

I can fix your credit at no cost and get you set up so you can buy a home within 30 days. You can get away with 3.5% down and also have a seller concession of up to 6%.

Also I have a program that lets you have a credit score as low as 560!! This program is only availible to Brokers and the interest rates are comparable to those with a 620 or higher.

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