Naani & other buyers, you should know that agents are not loan officers, a loan officer is best qualified to answer a direct will I or won't I question. That being said, I have had clients get approved for a mid score this month with a 620 midscore and I also have one lender who can help buyer's with mid credit scores of 580- still currently in this market, which is phenomenal. When getting a loan the lenders will factor in: your debt to income ratio, time on job/in same field, documentable income on W2 or 1099, positive trade lines and dates of negative trade lines. For first time homebuyers, there is not only the $8,000 tax credit for buyer's who buy before Dec. 1, 2009 and who earn less than $75,000/yr, it is also for those who make up to $100,000 a year, though the rebate decreases for income's over $75k. Buying a HUD home will deliver buyers a wonderful deal......just $100 down (for full price offers). (HUD offers homes at less than tax value often times, the savings can be tremendous). For example, there's one right now for sale in the mid $100s in a neighborhood where the home values are $200-$220. If your willing to make repairs, or roll the cost of the repairs into the loan, HUD or foreclosure homes can be a great value. We can have a handyman repair the home prior to moving in. Feel free to contact me so that I can help you and put you into touch with my award winning and reputable lender, and get you started on owning the american dream!
Nicole Arenas, Realtor
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