Posted by Ron on April 10, 2007 at 12:29:20:
You may be able to qualify for other loan programs but we need more information. I would be happy to go over your options with you. With 20% down you should be in good shape. ronsam4@yahoo.com
How do I get the Mortgage I need? Baltimore MD - Posted by Bill
Posted by Bill on April 10, 2007 at 08:28:26:
Hey all, First time poster here. Im looking for suggestions.
I am trying to buy a primary residence. I have cash for 20-25% Down (based on $60k on a $190-$210 purchase price.
Last year I qualified for a 30 yr, Fixed, Interest only, zero doc at 6-6.5%
Now the market has gotten to the point where there are a BUNCH of places that would be good for me in that price range… Heres the catch. as of last week my FICO (655) is 5 points too low to get this type of mortgage. I am a musician (stop laughing) so I can only do No Doc product. My buddy is a loan officer for a MD bank but he cant seem to find a lender for me.
Any Ideas?
Re: How do I get the Mortgage I need? Baltimore MD - Posted by Ben Carmona
Posted by Ben Carmona on April 10, 2007 at 22:20:29:
Bill,
I just looked over a couple of the nationwide lenders that we use to confirm, but a no doc program at 80% ltv is available with a 620 credit score.
Of course, the score is not the only important factor for qualifying. The number of tradelines open and active over the last 24 months will need to be addressed. Also, some lenders may have restrictions against possible “payment shock”. Your current housing history will also come in to play.
Please let me know if I can be of further assistance.
Ben Carmona
Re: How do I get the Mortgage I need? Baltimore MD - Posted by josh
Posted by josh on April 10, 2007 at 12:48:32:
Try Severn Savings in Annapolis. They seem to be very flexible.