can i get any typr of financing with scores between 509-565 $37,000 income, $5,000 down on a $135,00 home in orlando or kissimmee?

(0) | asked by: Roxanne Campbell | share | 28 months ago | Report
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answer by Steve Korpacz    |   Contact Me
you can get FHA financing with 3 1/2% down with a 580 FICO score great question Thanks Steven Korpacz
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1 month ago  |   Report   |   share
Katherine Major
answer by Katherine Major   
If I choose to purchase a piece of land to build a home later are there any banks who will finance with 0 down?
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1 month ago  |   Report   |   share
answer by Monique Johnson    |   Visit My Website   |   Contact Me
Ms. Campbell, the real issue with real estate financing isn't getting a loan, anyone willing to pay lofty interest rates find a loan. The idea is to get a loan that's right for -- with the lowest cost and best terms. As Mr. Press suggests consult a lending professional or housing counselor to get a better picture of what you qualify for.
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2 months ago  |   Report   |   share
answer by Karlton Press    |   Visit My Website   |   Contact Me
WIth $5,000 as a down payment, you aren't quite to 5% ($6,750). You might be able to make it work, but things are really quite tight. I recommend contacting a Direct Lender and having them pre-approve you for a mortgage. Being pre-approved is much better than simply being pre-qualified. With pre-approval the lender will pull credit and verify employment etc. This essentially saves everyone time by ensuring you will end up being able to close on the home. It is as close to a "sure thing" you can get to without making a cash offer. Call a lender now so you will know where you stand. If there are qualification issues, a good lender can help you with ideas of what to do to better position yourself at a later date.
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28 months ago  |   Report   |   share
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