Hi Mr. Rodriguez,
You want to speak with a mortgage rep who is a mortgage banker AND a broker who knows what
lenders can, and can't, do. Let me give you an example of what I mean. There are a couple of different FHA lenders who can fund your transaction with a credit score down to 600 (we can ;). However, the underwriter will want to verify your last 12 months of rent payments via cancelled checks or some other type of paper trail.
If you're renting from a private landlord or family member, (and paying cash) ou'll want to make sure
you're credit score is at least 620 as this will put your file into the "denied" folder. Also, any disputes on some types of accounts showing up on your credit report will either
cause a delay or a flat out denial. Long story short, there are several other varying "hoops" your file will need to get through so you'll want to make sure you speak
with a loan officer who is experienced and who has dealt with "outside the box" situations. I can't tell you the number of times realtors and borrowers, who've called me at the 11th hour of a transaction who need our assistance. If you'd like an honest opinion of your current situation our services won't cost you a single cent......I'm here to help you and to give you accurate, timely information.
Dedicated to your home buying success,
(512) 799-0133 direct