Do I move forward or not?
To start my REI career, a HELOC with my credit union is an option. My credit scores are not the best (675/685) and I had some financial downfalls before but no bankruptcies. I want a fixed rate loan and need advice on moving forward or not. by rbarreira931 from Fresno, California. May 11th 2022
Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions
It is going to be difficult to buy RE investment property with reasonably decent rates until you get your scores into the 700s. You will want to work with a mortgage Professional to discuss what you can do to improve your scores and also to identify how much credit you can qualify for and how much cash you will need to cover the required down payment and closing costs in addition to having the required reserves on hand before you start looking for your first property.Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Certified Mortgage Advisor and Certified by The National Association of Mortgage Professionals as a Certified Veterans Lending Specialist.NEXA is licensed in all states except MA and NY so give us a call. ~ www.ApplyYes.com 480-889-9000 - OR - 480-695-9300
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