The credit score is on it's way up, it was 608 about 4 months ago. But we'd like to get a mortgage now but don't have the money for a down payment. Any ideas?
2006-12-29 09:16:46 · 5 answers · asked by hasgr8boyz 3 in Business & Finance ➔ Renting & Real Estate
Call a mortgage broker. As long are your DTI works out 638 is fine for a mortgage. There are people with 580s getting 100% financing so I'm sure you can do it.
2006-12-29 09:35:21 · answer #1 · answered by Kevin K 3 · 0⤊ 0⤋
You can get 100% financing with no problem if that is the middle score of the primary borrower. Your debt to income ratio must be no higher than 50%, 55% with some lenders. If your real eatate agent can negotiate that the seller pay your closing costs (up to 6%), then you can get in your new home with little to no money out of pocket.
2006-12-29 10:10:40 · answer #2 · answered by staceydian 2 · 0⤊ 0⤋
Hi ,
638 is very very good for 100 % financing .Write the case details at kishaloy_bhowmick@yahoo.com .Will provide you all the options that are open for you .
regards,
kish
480.751.4125
Loan Officer
2006-12-29 12:43:02 · answer #3 · answered by kishaloy_bhowmick 2 · 0⤊ 0⤋
call the different mortgage companies and ur bank and see what they have to offer. only ur LOCAL companies can help u with ur ?s
2006-12-29 09:20:24 · answer #4 · answered by Nora G 7 · 0⤊ 0⤋
Just go to http://www.nationwidebillrelief.com/homepurchase.html they have lenders eager to loan you with your credit score.
2006-12-29 16:40:01 · answer #5 · answered by Anonymous · 0⤊ 0⤋