Need to refi my house to make some repairs to pay off my car and a small CC.
need to refi my house to make some repairs to pay off my car and a small CC.I would be at 150k, 80% LTV 20% DTI DTI. The problem is my middle score is 580, which is not FICO FAKO.Mortgage history is perfect, pay low score due to CC slowly, but most are now paying off. For some reason my score is not moving much at all, and I want to finally have these repairs, I think, mold is formed in the attic.What interest rate do you think I can reasonably get, should I try to go directly to a lender? I actually called my mortgage company and they said they would not even slightly below 680 guests and histroy for my payment to them is perfect for 5 years.Any ideas? by richard9967 from Murphysboro, Illinois. Apr 15th 2011
Chris Gummerson (cgummerson11)
#397 ranked lender in California - 648 contributions
It depends on what type of financing you are looking for. Conventional loans generally require a 620. FHA you can go down to 580 sometimes lower. You must not have any lates on anything in 12 months. Also, FHA requires the property to be in adequate condition. Any major issues with the roof, paint, exterior ect. What state are you in? You can contact me and I can do my best to qualify you, or if cant get approved, I can direct you on a plan to repair your credit so you can obtain financing. Chris Gummerson Bay Valley Mortgage 714-367-5125 bayvalleymortgage.com
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