edubb007 Posted August 2, 2003 Report Share Posted August 2, 2003 I keep hearing about this place and there diverse credit programs. Has anybody truied them??? https://www.ameriquestmortgage.com/index.html?ad=ameriquestmortgage.com Link to comment Share on other sites More sharing options...
firstsource Posted August 2, 2003 Report Share Posted August 2, 2003 I work with the wholesale division, and they are great. Very easy to deal with, seem to want to make the loans happen. (sometimes it seems that lenders just want to find a way to NOT lend, which does not make sense, but that is how they seem) Argent is not like that at all, they are wonderful, and quite fast.Charles Link to comment Share on other sites More sharing options...
edubb007 Posted August 3, 2003 Author Report Share Posted August 3, 2003 Mr. Clark. You seem very well educated and there are some questions I would like to ask.A) My scores are... HMMM..... Let me see. Oh yeah under my message! I always loose them! GEEZ! We are closing on september 2nd. That;s only a month to go. YEAH!3) With my scores presently where they are would I be eligible for a program with interest below 6.5%?6 yrs same job w/ raises each year. I get 8% a year garunteed! Yipee...^ neg's is the most I have on any 1 CR but that one will be down to 4 in 15 days. I smell score jump! a CC from 99 will get changed to R1 status and a Inst. TL will go byebye!We are doing 10% on a 204000 home and have seasoned the $$$. My Fiancee is gainfully employeed and awaiting a job where I work.Shes mid700's to 800 FICO My worst CR is EX but other than that I am pretty much ctuck w/ 3 120day late CC's(HHLD & FNBM) and a Judgement I have to negotiate before closing. I HAVE the $$$ but I want to get a deletion! Got ma?So Mr. Clark... What's the diagnosis mortgage king! I think I can get it based on my debt to income. It's somewhere around 11% using my GROSS figure and monthly expenses. I have 2000 in revolving debt and a car 18000. I think I've just thrown my whole file in the internet! Oh well Catch me if you can!If any other experts see a way to help let me know. Together on the loan would I fair for approval?I have a judgement now that I can pay in full worst case senerio but I WILL get her to fold for 1/4 the debt. If it goes BYEBYE would I get approved. We are already approved through her scores as a NO DOc but the rate is 6.5% si if I can hop on that would be good. I just don't want to refinance in a year when we're up to 9% just to get my name on my house!Thanks!!! Link to comment Share on other sites More sharing options...
edubb007 Posted August 4, 2003 Author Report Share Posted August 4, 2003 Charles... Help, I'm dieing her man! *BUMP* Link to comment Share on other sites More sharing options...
firstsource Posted August 4, 2003 Report Share Posted August 4, 2003 My experience is that that your scores that the lender will pull will have a middle score of about 590. From what I have been able to piece together, with that size loan, you are looking at about 7.95-8.45 range from a sub-prime lender, like Ameriquest. The total amount of debt you owe does not seem to matter to lenders, but what does matter is what your minimum payments plus your total housing costs are. Most Sub-prime programs allow up to 50% Debt to income ratio. You should have no problem getting the loan, once the judgement is paid off. Ameriquest will allow up to 2500 in unpaid charge offs, with a 90% loan, so you are good there. I would suggest that you go with having the loan in her name, and then when the loan is completed, have your name put on title, either as a part of the process or after the closing, using a quit claim deed. Charles Link to comment Share on other sites More sharing options...
edubb007 Posted August 5, 2003 Author Report Share Posted August 5, 2003 Thanks Charles. That's kind of the way I was going. Once I settle with broom hilda I'll be added to the title. Thanks again! Link to comment Share on other sites More sharing options...
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