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Credit Score in Solano County : Real Estate Advice

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  • Local Info1
  • Home Buying9
  • Home Selling0
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Activity 4
Thu Jan 26, 2017
Jesu49 answered:
Most definitely. Credit history. Work history. You need to build one and that takes time. Start by taking out a 6 month personal loan. Don't spend any of it. Put it in savings. Then pay it off a month early. From there, get two credit cards. Use them for paying your bills only. Pay off your credit cards' balances every month. If you are able, pay off more than the balance to show a credit. It normally takes a year to several years to build good credit. ... more
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Sun Jan 8, 2017
Sheryl Arndt answered:
Hello Marta, the 3bd 2ba single family homes for rent in Vallejo start from $1,675 a month. The rentals will be decided individually so you will have to see which ones you consider and call and go directly. You may have to put additional deposit to rent?

The purchase in Vallejo for 3bd 2ba single family home start from 239k and up. You may qualify to buy with minimal out of pocket expenses and pay less than rent.

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.

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.

If you decide you want to buy you will need to be pre-approved to be able to meet an agent to view and submit offers on any homes of your choice. You will need to gather documentation such as one month paystubs, two month bank statements, last two year tax returns, 1040s, 1099s, W2s 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 could consider a down payment assistance program such as CalHFA or Sapphire Grant which can cover your down payment and closing costs. You may close with minimal out of pocket expenses. You may consider the CalHFA from a minimum 640 fico score and the Sapphire Grant from a minimum 620 fico score.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down up to 417k. You may consider 3% down conventional from a minimum 620 fico score or even 5% down conventional with NO Mortgage insurance (Lender paid MI) up to 417k.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA/CalVet Loan Specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
... more
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Mon Jun 15, 2015
Sheryl Arndt answered:
Hello Butch, you may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down or as low as .5% half percent down payment program up to 417k. You may consider 3% down conventional from a minimum 620 fico score or even 5% down conventional with NO Mortgage insurance (Lender paid MI) up to 417k.

You will need to be pre-approved if you decide to buy to be able to meet an agent to view and submit offers on any homes of your choice. 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.

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 and you can be emailed listings to fit your search criteria. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

The purchase in Rio Vista currently start from 164k for 2bd 1ba single family home and 189k for 3bd 1ba single family home which is as low as $950 down payment with a minimum 580 fico score @189k.

It only takes a few dozen questions to qualify, go over your options and email you listings to study and compare. Here are some links to study as well as web reference links to many loan program pages offered...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA/CalVet Loan Specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
22+ 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

If my response was helpful, consider clicking Thank, Link or Best Answer.
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Mon Aug 27, 2012
Dianne Langston answered:
No, it will not. If your loan has funded and you are getting your keys tomorrow you are probably safe to allow your credit to be check. If you want to be double safe you can wait until after you close, and receive your keys. The likelihood of the credit check affecting your ability to close tomorrow is slim to none. ... more
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