I have a score of 671, but I had a late payment on a home equity line of credit in May of this year. I am looking to purchase a 4 plex and have 20% do

Asked by rodriguezp11, 08360 Wed Nov 28, 2012

20% down. Are there any lenders that would do a loan with this background. I have been turned down going the conventional route because of the late payment.
Any help will be greatly appreciated.

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Web reference:


Andrew Tisel…, Agent, Clifton, NJ
Sun Mar 3, 2013
Try Craig He can show you how to improve your credit score

Craig Andriulli

Vice President

NMLS #212830

Bond Street Mortgage, LLC

NMLS #191351

Cell: 201-647-4180

Office: 201-918-4980

Fax: 201-918-4981

Email: Craig@BondStreetLoans.com
0 votes
Linda Headley, Agent, Vineland, NJ
Sat Mar 2, 2013
Each lender and their underwriter have different criteria for a mortgage approval.
There are many reputable mortgage companies and I am sure they would be happy to assist you.
0 votes
Hramos, Home Buyer, Vineland, NJ
Wed Dec 5, 2012
Hello Rodriguez,

I'm your local Mortgage Consultant and I like the opprotunity to assist you.

I'm familiar with all south jersey communities and work with many of the real-estate agents
in your area.

Please feel free to contact me at your convenience .

Thank you (gracia)

Hector J. Ramos
Sales Manager/Loan Originator
NMLS #404011

Gateway Funding D.M.S. L.P.
508 Hurfville-Crosskeys Road
Sewell, NJ 08080
Office 856-218-1700 ext. 1015
Fax 856-218-0808
Email: hramos@gatewayfunding.com

“ Se Habla Espanol”
0 votes
, ,
Sat Dec 1, 2012
Some lenders will allow a 1X30 day late within the past 12 months; including ones I work with. I will need some more specific information to gain a clearer snapshot of your scenario. Please give me a call, or send an email, so that we can schedule a time to touch base and weigh-out your options. Have a great weekend.

Kindest regards,

Paul Marzolla
(201) 203-2266
0 votes
Andrew Tisel…, Agent, Clifton, NJ
Thu Nov 29, 2012
contact Craig
he can show you how you can improve your score
if it is 4 plex 20% may be enough
if you will be occupying the property you can even do 3.5% down FHA or 5% conventional

Craig Andriulli
Vice President
NMLS #212830
Bond Street Mortgage, LLC
NMLS #191351
Cell: 201-647-4180
Office: 201-918-4980
Fax: 201-918-4981

“Our Word is Our Bond"
0 votes
Helene Jeane…, Agent, Metuchen, NJ
Wed Nov 28, 2012
One late payment shouldn't make it impossible unless you have other issues going on. Also, 20% down for a commercial property is considered low. 25 to 30% is more the norm. You should speak with some qualified mortgage brokers. If you need some recommendations, let me know via email and I'll be happy to share
0 votes
De Vonte Wil…, Agent, East Point, GA
Wed Nov 28, 2012
Hello. You should try contacting a local Mortgage Broker/Mortgage Advisor for financing options. It doesn't seem impossible. Maybe you should consider trying to increase your down payment, and check your credit reports for any inaccuracies prior to even attempting to obtain financing.

You can receive your credit reports online for free by going to; https://www.annualcreditreport.com/cra/index.jsp (No Credit Card Needed)

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
"I Stand Behind Getting You Results!
0 votes
Rich Homer, Agent, NAPLES, FL
Wed Nov 28, 2012
Our bet is you'll need more than 20%. Your best bet is to contact a LOCAL Mortgage Broker at "Find a Pro" in the header of this website. http://www.naplesrealestateguys.com/
0 votes
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