Sign in to follow this  
albatross

Mortgage app. 100% Possible?

Recommended Posts

My Fico score is EQ-633 EX-640. I am Not sure about TU, but I would say the 633 is my middle score. I am Self employed. Income $35,000 per year according to this years tax statement. I have a few charge offs 5 years ago. Wanting to buy a house at 100% financed. Loan approx. $80-100K. Perfect rental history for at least 6 years. No lates or collections on utilities. Current rent is $690.

I have approximately 6 positive tradelines with at least 12 months history. 1 car loan $18,000 from Bank of America, Bank of America credit card ($4000CL), Household CC $2500CL, I live in Jacksonville, Florida and would like to work with Charles if you are interested. Either way, I am hoping someone will give me the assurance I need to go ahead and do this. I have been wanting to buy a house for a number of years and kept putting it off because of fear of rejection.

Share this post


Link to post
Share on other sites
Self-employed, with a 630 mid score and full documented loan is definetly workable for 100% loan.

Thanks for the input. I got a hold of Charles aka "firstsource" and he is working on it for me. Hopefully it all works out.

Share this post


Link to post
Share on other sites

Albatross, can you update on your situation? I have almost same circumstances and live in St Petersburg, Florida. Would like to know how everthing is going.

Share this post


Link to post
Share on other sites
Albatross, can you update on your situation? I have almost same circumstances and live in St Petersburg, Florida. Would like to know how everthing is going.

res0nzy7

I initially contacted firstsource and he said I would have no problem getting a loan. Working with Charles would of been fine if we weren't 2000 miles away from eachother. I decided to work with a local Mortgage broker who also owns a real estate brokerage. He helped me find a house that I could afford and one in which the seller would credit me back closing costs, so I had almost no out of pocket expenses. Then he had one of his mortgage counslers find me a home loan. I got an 80/20 2 year ARM stated income/verified assets loan at 8% on the first and 11% on the second. I closed on the 28th of February with no problems. If you need help, let me know because my mortgage broker was great and I would love to be able to send him some business. The process was very easy.

Let me know if I can help, Albatross

Share this post


Link to post
Share on other sites

I would just like to add that I worked with Charles aka "Firstsource" and I live in Wisconsin which might not be 2000 miles away from Charles, but close to it (1,500). Charles uses the latest technology and Fed Ex so the distance was not an issue at all. In fact, I found it much more convienient to conduct business this way. Charles is an awesome broker and better yet he is an amazing person.

Share this post


Link to post
Share on other sites
I would just like to add that I worked with Charles aka "Firstsource" and I live in Wisconsin which might not be 2000 miles away from Charles, but close to it (1,500). Charles uses the latest technology and Fed Ex so the distance was not an issue at all. In fact, I found it much more convienient to conduct business this way. Charles is an awesome broker and better yet he is an amazing person.

I would agree. Charles made it almost painless, LOL! Some hick-ups beyond his control, but overall a great process. Now 7 months later enjoying our home. Charles answers all your silly questions, even when you ask them twice. Hopefully we can work together again in the future.

Share this post


Link to post
Share on other sites

I agree with you. Charles is a very friendly person and seemed to go out of his way to make sure I understood everything. I did not intend to imply that I did not want to do business with Charles. I just found it easier to use a broker that is local to me. My broker's office was 1 mile from my old residence. Either way, I highly recommed Charles to anyone who wants an honest person to take care of their mortgage needs.

p.s. Charles, if you are reading this, thank you for all that you did for me.

Share this post


Link to post
Share on other sites

Albatross, I don't think anyone took your comment that way. No worries.

Share this post


Link to post
Share on other sites
Guest
This topic is now closed to further replies.
Sign in to follow this