Have low credit scores, (612 mid-score me & 626 mid-score wife). Current loans 7.5% (70,000) and 13% (26,000). Can anyone help?

Asked by don_texas, Bastrop, TX Tue Oct 9, 2012

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De Vonte Wil…, Agent, East Point, GA
Thu Nov 15, 2012
Hello don_texas. You should speak with a Mortgage Broker/Loan Officer who assist you in obtaining a lower interest rate.

I hope this answered your question! If you have any further questions, please feel free to contact me by the ways below.

Wishing you all the best,


De Vonte Williamson , LSA
Proudly Serving Long Island
Coldwell Banker Residential
(631)384-3695
http://cbmoves.com/DeVonte.Williamson
http://devontesellsny.wordpress.com/
DeVonte.Williamson@cbmoves.com
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0 votes
, ,
Thu Nov 15, 2012
Need more info: was the second used to buy the house or was it taken out afterwards? If after, how long ago? Value of property? Do you have any other FHA loans? What type of loan do you currently have? Why is credit low? Will the refinance be enough to allow you to afford the house? Are you willing to borrow up to 85% of the value to reduce your expenses?
Don't answer here, tell it to Tom.
0 votes
, ,
Tue Oct 9, 2012
Maybe.
We have a program for 600 scores. Pretty strict.
Our 620+ program would be a better deal.
Do you have any credit card debt?
If so... Is the balance approaching the limit? If so, we could pay that down and do a rapid rescore to get the score over 620.
http://activerain.com/blogsview/1145779/rapid-rescore-your-c…

Feel free to ask follow up questions here or directly.


Tom Burris
Mortgage Banker
DallasLoanGuy.com
(214) 763-4629 cell/text/nights/weekends(Really!!)
tomburris@dallasloanguy.com
Lending all across the entire Great State of Texas!!
NMLS# 335055
Search Dallas area MLS for FREE. No registration => http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134
0 votes
We have about 20,000 in credit card line with about 16,000 outstanding. This is mostly due to the flood we experienced in January as a result of the Bastrop fires in Sept 2011. Not being in a flood plain we had no flood insurance and flash flood did extensive damage to our house. We depleted savings and resorted to credit cards to finish repairs. Our home is valued at about 155,000.
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