Posts Tagged ‘Lending Tree’

Past credit problems, mortgage loan?

Monday, January 7th, 2008
home mortgage loan credit
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?

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