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qbfaith
2 Posts |
 Posted - 05/20/2008 : 3:23:35 PM
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Any help would be greatly appreciated.
Should buyer wait the 4 months or try for pre-approval now in San Diego market?
Scenario:
Seeking %100 financing via seeking down payment assistance, any state/city rehab grants, etc.
Wants loan $300-350k. Is this possible?
590 mid FICO (596/645)
self employed - tax returns for verify - AGI around 50K each year
Derogs affecting FICO:
*Collections less than $850
*Defaulted student loan, HOWEVER, loan is in rehab program with Dept of Education and will be "positive" in Sept 2008. Loan will return to current status and not reflect ANY negs in Sept.
*Released tax lien from mid 2002. Tried to get FTB to record as filed in error to no avail.
Plus:
Decent revolving credit - less than 7% credit card usage
Additional monthly income wipes out monthly debt ($240)
Couple of retail credit accounts in very good standing.
Any referrals and/or assistance would be greatly appreciated.
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MoneyLenderP
1617 Posts |
Posted - 05/20/2008 : 3:47:34 PM
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| wait,work on the credit and try and get a down payment together. ...no co borrower? |
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qbfaith
2 Posts |
Posted - 05/20/2008 : 4:05:21 PM
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quote:
Originally posted by MoneyLenderP
wait,work on the credit and try and get a down payment together. ...no co borrower?
No, no co borrower. Wants to be able try and buy in the accessible market now. Any alternatives? FHA when student loan rehab satisfied? Any conventional?
Thanks
Faith |
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Clr2close
330 Posts |
Posted - 05/20/2008 : 5:49:51 PM
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| when loan is brought current you can do this fha looks like you will have to wait the 4 months |
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