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Credit Score in San Diego : Real Estate Advice

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  • Home Buying976
  • Home Selling108
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Activity 12
Fri Feb 10, 2017
Ivy Fussell-raymond answered:
Most apartments are going to do a background check, but perhaps you need to look into a private owner. Good luck
0 votes 1 answer Share Flag
Mon Jul 25, 2016
answered:
Hello nrmcghee0001, you may need to put extra deposit. It is easier to qualify to buy than rent in many cases. I am also a Veteran and love assisting Veterans.

You should study RENT vs BUY options as you may qualify to buy and pay less than rent in many local cities. You may qualify to buy with minimum out of pocket expenses and pay less than rent. VA or CalVet are zero down purchase programs for Veterans.

Beware of the many rental scams out there these days on all sites. The scams are on all of the rental listing sites except one that us agents/broker use such as mls, multiple listing service.

You should not give anyone any funds or personal information without confirming with a licensed agent/broker or management company to find out whom you should be dealing with and the status of any address of interest.

You may qualify to BUY with minimum out of pocket expenses such as less than first, last and security deposit of a rental. If you don't qualify VA you may qualify for the 3%-5% Sapphire Grant down payment assistance program from a minimum 620 fico score.

If you decide to buy you will need to be pre-approved to be able to meet an agent to submit offers on homes of your choice. You will need to gather documentation such as one month paystubs, two month bank statements, last two year tax returns, 1040's, 1099's, W2's and all schedules, copies of drivers license/ID and social security card for each applicant.

Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs. VA or CalVet are not fico score driven loan programs. FHA requires a minimum 500 fico score. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down. You may consider a 3%-5% Sapphire Grant down payment program up to 417k from a minimum 620 fico score which does not have to be repaid.

It only takes a few dozen questions to qualify, go over your options and email you listings to study and consider. Here are some links to study about me as well as web reference links to many loan programs...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA or CalVet loan specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
http://youtu.be/MrygA2_8fAY
http://www.trulia.com/profile/SherylArndt
... more
0 votes 3 answers Share Flag
Mon Jul 25, 2016
answered:
Hello Rtorano, your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down. You may consider a 3%-5% Sapphire Grant down payment program up to 417k from a minimum 620 fico score which does not have to be repaid.

You will need to be pre-approved to be able to meet an agent to submit offers on homes of your choice. You will need to gather documentation such as one month paystubs, two month bank statements, last two year tax returns, 1040's, 1099's, W2's and all schedules, copies of drivers license/ID and social security card for each applicant.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve you can be emailed listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

It only takes a few dozen questions to qualify, go over your options and email you listings to study and consider. Here are some links to study about me as well as web reference links to many loan programs...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA or CalVet loan specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
http://youtu.be/MrygA2_8fAY
http://www.trulia.com/profile/SherylArndt
... more
0 votes 3 answers Share Flag
Mon Jul 25, 2016
answered:
Hello JFerraro50, you will need to be pre-approved to be able to meet an agent to submit offers on homes of your choice. You will need to gather documentation such as one month paystubs, two month bank statements, last two year tax returns, 1040's, 1099's, W2's and all schedules, copies of drivers license/ID and social security card for each applicant.

Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down. You may consider a 3%-5% Sapphire Grant down payment program up to 417k from a minimum 620 fico score which does not have to be repaid.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve you can be emailed listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

It only takes a few dozen questions to qualify, go over your options and email you listings to study and consider. Here are some links to study about me as well as web reference links to many loan programs...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA or CalVet loan specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
http://youtu.be/MrygA2_8fAY
http://www.trulia.com/profile/SherylArndt
... more
0 votes 2 answers Share Flag
Sat Nov 9, 2013
answered:
That is a perfect scenario, we can help. For mortgage help, call or email for a free pre-approval in less than 10 minutes. We lend our own money and are licensed in 49 states.

We can do: FHA, Conventional, USDA, VA, HARP, Interest Only, Home Equity, Fixed, and Variable. Find out which product is right for you by calling Brad at (855) 415-5626.

Brad Neumann
Sr. Loan Officer
Crosscountry Mortgage Inc.
Toll Free: (855) 415-5626 ext. 5734
Email: bneumann@myccmortgage.com
NMLS# 948036
... more
0 votes 14 answers Share Flag
Tue Oct 15, 2013
John Arendsen answered:
As a property manager in the San Diego area I can tell you first hand that San Diego is one of the strongest and most competitive rental markets in the Country. With it's base of college students, military, seniors, visitors, and tourists if you're not squeaky clean you'll have a bit of a challenge trying to rent in many if not most desirable areas. You may just have to settle for an inexpensive motel or room rental in a not so nice neighborhood while rebuilding your credit worthiness. Good luck. ... more
0 votes 1 answer Share Flag
Thu Sep 12, 2013
Jessica Bateman answered:
There are lenders that can do FHA loans with a 580 score.. I recommend The Lenders Network they will be able to refer you to a lender willing to work with lower credit scores.

Good Luck. ... more
0 votes 2 answers Share Flag
Mon Jul 29, 2013
JR Thrasher answered:
Alternative forms of credit such as utility bills and cell phone bills are a good place to start.

J.R. Thrasher
www.SanDiegoRealEstateVeterans.com
(619) 929-0105
1 vote 20 answers Share Flag
Mon Jul 29, 2013
JR Thrasher answered:
Yes, write a letter to the credit reporting agency in question and explain the error. If you don't owe the debt it shouldn't be on your credit.

J.R. Thrasher
www.SanDiegoRealEstateVeterans.com
(619) 929-0105
... more
1 vote 4 answers Share Flag
Thu Jul 25, 2013
Jessica Bateman answered:
Are you working? Some lenders can go down to a 500 score with FHA 30% down, just use your US credit and a large down payment. As long as the cash can be sourced and you have sufficient income then it's work a shot. FHA loan limit in LA is up to 732k with Put 300l down and you could get a Million dollar home.

http://www.newsday.com/classifieds/real-estate/how-to-tell-when-an-fha-loan-is-right-for-you-1.3692662

Check out The Lenders Network they work with a few Mortgage companies here in CA that have approved many of my clients with low scores.

Good Luck!
... more
0 votes 5 answers Share Flag
Wed Sep 22, 2010
Constantine K. answered:
Mandy, did you find any resolution to your situation?
If not, feel free to call me to discuss.
http://www.SanDiegoVA.org is a good place to start. I will link it below.
They can help with restructuring a VA loan. ... more
0 votes 2 answers Share Flag
Sun Sep 13, 2009
Hannah Fliegel answered:
Hi Yvon,

If you are already late on your mortgage payments then the damage has been done to your credit rating. Typically other credit, such as credit card limits were reduced or closed entirely on you by now.

There is only one way to protect a credit rating prior to defaulting on a mortgage. Before you defaulted you would need to send the lender a "qualified written request" and then if you default in order to execute a short sale and the lender does report 'late payments' on your credit reports, this becomes illegal for the lender and they actually owe you money! Furthermore, the lender must remove those late payments. Understand that in the end the 'short sale' will remain on your credit reports however all the 'late payments' will have to be removed by the lender.

For the future, your credit rating will be much more favorable if you have a short sale that does not include late payments, vs. a short sale that does have late payments. This strategy works well for Foreclosures, Deed in Lieu and Loan Modifications as well. Good luck!
... more
0 votes 7 answers Share Flag
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