Beca asked:
Hi,
My husband and I experienced credit problems a few yrs ago, since then we have been trying to reestablish our credit. We have financed and paid off a car with no late payments. His midscore is 600 mine is in low 500’s. We would very much like to purchase a home. Is there anyone that can help us with obtaining a home loan? We live in South Carolina and our annual income is in the $50’s. Thanks for any information .
We are in Aiken, SC. Thanks for any help.
Hi,
I received an offer from a lender on Lending tree and these are the details, can someone please explain this to me?
Hi,
My husband and I experienced credit problems a few yrs ago, since then we have been trying to reestablish our credit. We have financed and paid off a car with no late payments. His midscore is 600 mine is in low 500’s. We would very much like to purchase a home. Is there anyone that can help us with obtaining a home loan? We live in South Carolina and our annual income is in the $50’s. Thanks for any information .
We are in Aiken, SC. Thanks for any help.
Hi,
I received an offer from a lender on Lending tree and these are the details, can someone please explain this to me?
80/20 Combo Loan
1st Mtg Amt $80000 Rate 6.25 “2/28″ ARM
Term 30 yrs payment: $492.57
2nd Mtg Amt 17500 Rate 9.60000038146973 “30/20 Ballon (S)”
Term 30 yrs payment $148.43
Total payment $641.00
I have put in quotes what part I dont understand. Thanks
Douglas
Tags: Amt, Lending Tree, Obtaining A Home Loan
I’m getting out of the same boat. My mortgage co. said to up our score without getting into more debt. just have someone who has a credit card and makes payments on time put you on their card as an authorized user. This will not affect them at all. But when they report to the bureau, they will report you have a card with ontime payments. But make sure they pay on time! For this you don’t even need their card # or anything, you are just “piggy backing” from them. My mortgage co. said, by doing this, your score can go up by 125 pts! Its worth looking into.
Qualifying with a 600 is really easy, even for zero-down loans. Sumit your info to getsmart.com, compareinterestrates.com, or lendingtree.com. Lenders will call you directly. Be sure to list your credit rating as being Fair or you will have lenders calling you that can’t help you (a lot of them require a 680+ for zero down.)
If your husband makes the most money, they will base the rate on his score, not yours.
This is what I like to call a no-brainer loan
where at in sc? i may know a lender who can help!
I am only licensed in Ohio, so I can’t do the loan but I can offer unbiased advice.
If you were in Ohio, I’d already be at your house getting you pre-approved. You can do a 100% loan (no money down) with his score.
I would definitely work with a reputable mortgage broker in the area, one with a spotless Better Business Bureau record (this may be hard to find, but they’re out there).