Asked by Rnangiey, Omaha, NE • Sun Oct 27, 2013
Questions about mortgage qualification and bank recommendations?
Nurse Angie asked 1 sec ago - 4 days left to answer
My husband and I are wanting to build a home, so I have a couple of questions about qualifying for a mortgage.
1. Is it an absolute necessity to have worked a part time job for 2 years before the income will be counted for a conventional loan? By the time we go to get pre-qualification for build I will have worked my part time job for about 1.5 years.
2. My credit score is roughly 680-690. My husbands is somewhat lower, about 650. Are there banks that offer conventional mortgage financing (not FHA) with a credit score less than 660?
3. I have a foreclosure that is 6 years ago this March. I have a divorce decree that orders my ex-husband to refinance the home into only his name and that I am not responsible for the payment, but he let it foreclose before he ever re-financed it. Have to wait 7 years for conventional mortgage approval?
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