ConfusedToo Posted October 25, 2007 Report Share Posted October 25, 2007 I just want to thank everyone for their input on this site. I have learned so much over the last year and have been able to get my credit score in a decent range.I will be closing on my new home next week with an interest rate of 5.875! When I applied it was 6.25. I am profoundly grateful for you all. Link to comment Share on other sites More sharing options...
msekinah Posted October 25, 2007 Report Share Posted October 25, 2007 I just want to thank everyone for their input on this site. I have learned so much over the last year and have been able to get my credit score in a decent range.I will be closing on my new home next week with an interest rate of 5.875! When I applied it was 6.25. I am profoundly grateful for you all.that is my main motivation to get my arm refinanced and start a business with decent credit scores. I had to hang low for a minute due to funds, but reading stuff like this gets me up and running again. Great Job!!!!! Link to comment Share on other sites More sharing options...
jq26 Posted October 25, 2007 Report Share Posted October 25, 2007 Congrats! Great rate. Link to comment Share on other sites More sharing options...
Moneedshelp Posted October 25, 2007 Report Share Posted October 25, 2007 Congratulations!!Enjoy The New Home. Link to comment Share on other sites More sharing options...
ad2s07 Posted October 25, 2007 Report Share Posted October 25, 2007 %Congrats! Hopefully next year I will be writing the same thing. Link to comment Share on other sites More sharing options...
jonah797 Posted October 25, 2007 Report Share Posted October 25, 2007 Hey what does your credit score have be to qualify for a FHA Loan??? Link to comment Share on other sites More sharing options...
morrow Posted October 25, 2007 Report Share Posted October 25, 2007 Hey what does your credit score have be to qualify for a FHA Loan???There is no qualifying score, thats one of the cool things about FHA. That doesnt mean your credit can be in shambles though. You still have to have show decent payment history and if you've filed for BK you need to wait 2 years. Link to comment Share on other sites More sharing options...
ConfusedToo Posted October 25, 2007 Author Report Share Posted October 25, 2007 Between the 3 reporting agencies, my scores ranged from 590 to 685. It was this site that gave me the motivation to try for FHA. I tried for conventional elsewhere and man, they wanted almost 8%.They do look at your credit score, but more importantly they look at what is on the report.I still can't believe it's true, I'm still in awe. Link to comment Share on other sites More sharing options...
msekinah Posted October 27, 2007 Report Share Posted October 27, 2007 I just want to thank everyone for their input on this site. I have learned so much over the last year and have been able to get my credit score in a decent range.I will be closing on my new home next week with an interest rate of 5.875! When I applied it was 6.25. I am profoundly grateful for you all.did you apply through a bank or directly thru FHA? Link to comment Share on other sites More sharing options...
ConfusedToo Posted October 27, 2007 Author Report Share Posted October 27, 2007 Thru a credit union, at the advice of the home seller. They were selling privately and the home was already mortgaged thru the same credit union, but not an FHA loan originally.If you have an FHA loan, it is assumable when you sell your home, the buyer does have to qualify however.It was after reading, reading, and reading this site that I opted to go for the FHA and the credit union agreed.I just cannot express how empowered I have become over the last year or so, all from the help of you great people on this forum. Link to comment Share on other sites More sharing options...
msekinah Posted October 28, 2007 Report Share Posted October 28, 2007 Thru a credit union, at the advice of the home seller. They were selling privately and the home was already mortgaged thru the same credit union, but not an FHA loan originally.If you have an FHA loan, it is assumable when you sell your home, the buyer does have to qualify however.It was after reading, reading, and reading this site that I opted to go for the FHA and the credit union agreed.I just cannot express how empowered I have become over the last year or so, all from the help of you great people on this forum.thanks!!!!!!!!! I'm waiting for my ship to come in, and this forum is definitely the wind beneath my wings. ENJOY YOUR NEW HOUSE!!!!!!!!!!!! Link to comment Share on other sites More sharing options...
Recommended Posts