Information to help you qualify for credit
I would like to purchase a home so need a loan of $100k. I am in college, I have no debt, I pay all my bills on time and I have a good steady job but I still haven’t been able to qualify for a mortgage. I know some people who can’t even afford it are getting loans for like $300k. I am completely baffled. I work my butt off and have nothing to show for it. I am just so tired of being denied.
I got pre-qualified for a home loan and my credit and debt to income ratios are good according to my realtor. How often do you see a pre qual that gets denied, I’m just worried because I know how today’s economy is (although it is getting better). I am applying for an FHA loan
I”m thinking about buying a used car soon and I was wondering if there is a way to check what kind of loan I qualify for without it being an inquiry on my credit report. Is there a way to do this? Also would pre-qualified or pre-approved inquiries hurt my credit score?
My credit score is 713 according to Equifax
I want to know if I would be approved for a $300,000 loan. My credit score is around 650-675, I earn $5700 gross and take home $4250 monthly. I pay $365 per month in credit card debt and $235 in student loans. I am a first time home buyer and have a very small amount to put down (under 10k). Does anyone have a rough estimate on what I could qualify for?
I would prefer to keep the mortgage + taxes + insurance under $1700 per month
Does a home improvement loan qualify for the same income tax deductions as that of a home loan?
Our loan balance is $685K from an original 700K loan. Our income was $160K when the loan was approved 3 years ago but now we earn about $120K. ARM is currently 4.5%. We have been able to keep up with the payments until now but we need help soon.
I got a FHA Secure mortgage 6 months ago. I called J.P. Morgan Chase to apply for a loan modification but I was told it does not qualify since I had the loan for less than 1 year. They say I must wait another 6 months before applying for modification.
Does that sound correct? Is this true? I need modification help now not 6 months from now.
Let’s say I have money and I qualify for a loan, so I buy a house and rent it out. My wife has to sign that she is not responsible for the loan, this loan is based only on my income and my credit score.
So does this mean that my wife can get a loan by her income and her credit score and buy a house on her own? This is in California.
I have 2 homes; one I live in the other my son rents and I am having a hard time making mortgage payments. The house is worth less than I owe and my son can’t make the payment of $1700 a month. I owe approximately $ 200,000. The home is in San Bernardino county California.
I’ve been doing a lot of research in terms of qualifying for a home loan and can’t seem to find an answer to this. Many home loans require you to show a bank account statement of at least 3 months of savings. I unfortunately don’t have that but the monthly mortgage is not an issue. Will my parents adding my name to their savings account allow me to still use that account as proof of the 3+ months savings to qualify for the loan? Will this help in any way towards getting approved for the loan. Thanks!
When can a bank foreclose on a loan? If there is an 80/20 loan, is the process the same? Can the heloc holder start foreclosure?
I need to combine all my bills into one easy loan payment. I don’t want to deal with debt consolidation companies because they are really a rip off and they limit what you may be able to do financially in the present and future. I need a loan to build my credit score. I’m not looking for any of those Nigerian scam loans or advance fee scams but reputable lending institutions. Can someone help me?
I am getting 20K from the Indian Health Service to help me pay back my student loans because I work in a rural Indian health center. They will make a direct deposit to me. I have about 130K in loans to pay back. As long as I have qualifying loans I can reapply each year for another 20K. If I send the money directly to the lender and take 20K off the top, it will only reduce my monthly payment by about $150/mo if I’m lucky. If I bank the 20K instead and use it for monthly payments of say, $1500/mo then I could keep what is NOW coming out of pocket ($850/mo) to increase my personal income – which is desperately needed. So, bottom line is that I would be increasing my payments by $650/mo. Question is, would this be better for me or worse in the long run due to compound interest rates? $150/mo decrease in monthly payments with 20K off the top of 130K owed OR bank the 20K and increase monthly payments by $650/mo. My loans range from 8% for state loans (80K) and 3-4% federal loans (50K). HELP!
We are current on our home loan but our work has slowed considerably and we don’t foresee being able to make our mortgage payments in the near future. Our loan is through Bank of America. Has anyone been able to qualify for a Loan Modification that has been in the same position? Any guidance would be appreciated!
We were put on the deed of a home while we were "renting to own" (1 yr) then all of a sudden the landlord wanted the rest of the cash. So we got out a home equity loan with the house to pay him what we owed him. Would this qualify us for the First-Time Buyer Tax Credit?
My wife and I are buying a house on a conventional loan but are first-time buyers. Also, would we have to live there for at least 3 years or can we live there for 2 1/2 years and rent it out and still qualify?
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