Home Buying in Buffalo>Question Details

Randy Smith, Home Buyer in Buffalo, NY

Help! Transunion score of 632 (non fico) and fico of 577 (I hate fico). Trying to buy a home in the WNY region (80K).

Asked by Randy Smith, Buffalo, NY Wed Nov 20, 2013

I would like an FHA loan for a home in the western new york region. I have the income for a small mortgage (max 80K). Im sick of wasting money on rent ($835).
I have been fixing my credit for nearly a year which vantage score shows, but fico has not changed at all...I have things from when I was in HS and let my parents try to help my credit (big mistake) and they never got a pay to delete for three credit cards totalling $3500, and each have nearly 3 90 day lates! (I had no idea...I was 16).
Who would provide a mortgage? I have an income of 24K a year (I am a PhD student). I also need the company to "ignore" student loans since I am in deferrment until I graduate (5 more years of PhD, and some lenders do not use it for my DTI otherwise I would be screwed.)

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Randy,
Sit back and relax. You will need to map out a road to home ownership. I would start with a Mortgage Broker and find if there are any programs that you could fit into. If not then ask the Broker for direction to a repair credit company. I would lay out the steps to rehabilitate your credit and get to a place where you could buy a home. With perseverance you will come out on top!
Sincerely,
David Poulsen
1 vote Thank Flag Link Wed Nov 20, 2013
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